Tirupati Inks traded at Rs. 53.75 at 9:01 am on the Bombay Stock Exchange. It was a 25% premium on the price offered to the public at Rs. 43 per share.

On the other hand, the BSE Sensex gained 115.72 points or 0.58% to end at 20,184.84 points.

Tirupati Inks had started out at Rs. 53.95 on the Bombay Stock Exchange, which is a 25.46% premium on its published price. It got as high as Rs. 56 and as low as Rs. 52 till now today.

About 50,762 shares were sold during early trade.

Tirupati Inks had published its shares at Rs. 41 to Rs. 43 for every share price band in the recent follow-on public offer (FPO), which was taken to 8.77 times. The shares of the company have already been listed on the Delhi Stock Exchange.

Tirupati Inks is going to use a portion of the FPO proceeds to establish a new facility for the manufacturing sector. It will also utilize the finances to support the current range of products and to strive for inorganic growth plans.

The company made a gross gain of 204.80% with a 70% increase in the total sales.