Esconet Tech IPO Day 3: The price band was fixed in the range of Rs 80 to Rs 84 apiece for a lot size of 1,600 equity shares. The company plans to raise around Rs 28.22 crore (at upper band) from the offering and aims to be listed with NSE Emerge.
The Rs 72.12 crore issue is being sold in the Rs 141-151 price range. Rajan Shinde, Research Analyst, Mehta Equities said the key strength of the company comes from the association with Jindal Pipes, enjoying a long standing relationship with Jindal under the brand of Jindal Star.