Shares of Indowind Energy Ltd, a Chennai-based company managed to get listed at Rs 80 on BSE. The stock is trading at a premium of nearly 23% compared to the issue price of Rs 65.

With first few minutes of trading the volumes were over 11 lakh shares. Technical analysts expect the stock to do well in the markets. At current P/E ratio, the stock can see strong demand in coming days.

While on National Stock Exchange, the first price was Rs 75. The stock is trading strong in the moment after touching a high of Rs 80. In early trade nearly 18 lakh shares were traded on NSE.

The company will use the IPO funds for expansion plans. The company will soon set up a 9-mw wind project in Karnataka. The cost of the project is nearly 50 crore. The project will be spread over an area of 125 acres. The company sells ready-to-buy wind farm projects.

The recent yearly results of company were strong with Profit after tax of Rs 6.5 for year ending 30, June, 2007.