Euro Pratik shares end marginally higher after sharp rally in early trade

New Delhi, Sep 23 (PTI) Shares of Euro Pratik Sales Ltd, a prominent player in the decorative wall panel industry, on Tuesday ended marginally higher amid profit-taking after a sharp rally in the early trade.

The stock made its market debut at Rs 273.45, up 10.70 per cent from the issue price of Rs 247 apiece on the BSE. During the morning trade, it jumped 13.17 per cent to Rs 279.55. But, later the stock lost momentum and ended at Rs 248.25, up 0.50 per cent.

On the NSE, the stock listed at Rs 272.10, surging 10.16 per cent. But, it later ended at Rs 248.38, up 0.55 per cent.

The company's market valuation stood at Rs 2,537.12 crore.

The initial public offer of Euro Pratik Sales Ltd received 1.34 times subscription on the closing day of bidding on Thursday last week.

The public issue was entirely an offer-for-sale of shares worth Rs 451.32 crore by promoters with no fresh issue component.

The price band for the offer was Rs 235 to Rs 247 per share.

Euro Pratik has an extensive product range catering to both residential and commercial applications, which is predominantly sold under its flagship brands 'Euro Pratik' and Gloirio.

The company operates on an asset-light model - it outsources manufacturing to contract partners across South Korea, China, and the US. PTI SUM SUM SHW