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Mumbai, May 18 (PTI) Tarapur Transformers, a subsidiary of power engineering solutions provider Bilpower, today listed flat at Rs 75 on both the bourses. The scrip later surged nearly 7 per cent to Rs 80.20 on the Bombay Stock Exchange over its issue price of Rs 75. Similarly, on the National Stock Exchange, the scrip jumped nearly 8 per cent to a high of Rs 80.80. The company has listed 1.95 crore equity shares on both the bourses. Last month, the company had raised Rs 63.75 crore by initial share sale. The company would use the proceeds for expansion and modernisation of Pali unit, to part-finance incremental working capital requirements, acquisition of businesses and the marketing and corporate branding expenses. Tarapur Transformers manufacture transformers up to 220 KV class, having an installed capacity of manufacturing of 1,839.40 MVA and repairing of 1,800 MVA per annum.
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