ICICI Venture-backed VA Tech listing sees 26% premium
ICICI Venture-backed water treatment and infrastructure firm VA Tech Wabag has traded up at a more than 26% premium to its INR1,310 ($29.50) issue price at its listing on the Bombay Stock Exchange.
According to its trading price, VA Tech is valued at approximately $362 million – a boost for ICICI which paid a reported INR50-60 crore ($11.2-13.5 million) in 2006 to take a majority stake in the company,...
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