Mumbai, Feb. 23 -- The scrip was listed at Rs 290, a premium of 245.24% compared with the initial public offer (IPO) price. The stock is currently frozen at its lower limit of 5% over its listing price.

The counter hit a high of Rs 294.95 and a low of Rs 275.50. About 12.44 lakh shares of the company changed hands at the counter.

Esconet Technologies' IPO was subscribed 337.45 times. The issue opened for bidding on 16 February 2024 and it closed on 20 February 2024. The price band of the IPO was set at Rs 80 to 84 per share.

The IPO comprised fresh issue of 33,60,000 shares. The promoter and promoter shareholding diluted to 64.94% from 89.18% pre-IPO.

The company intends to utilise net proceeds for working capital requirements of the ...