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Shares of fitness chain Talwalkars Better Value Fitness Ltd listed at 142.70 rupees on the BSE on Monday, 11.5 percent higher from its issue price of 128 rupees.Talwalkars raised 774.4 million rupees via the initial public offering of 6.05 million shares. The issue was covered 28 times at the upper end of the price band of 123-128 rupees.The firm, which operates a diverse suite of services including gyms, spas, aerobics and health counseling, plans to use to the proceeds to repay debt and set up 27 health clubs in FY11.At 9.08 a.m., shares of the firm were up 19 percent at152.35 rupees on the BSE.(Reporting by Nandita Bose; Editing by Harish Nambiar)(For more business news on Reuters Money visit http://www.reutersmoney.in)
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