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Patni scrips listed

MUMBAI, FEB. 25. The shares of Patni Computers Systems were listed on the Bombay and National stock exchanges today and the first deal was struck at Rs. 305 (for 200 shares), much higher than the issue price of Rs. 230 per share of the face value of Rs. 2.

However, soon after listing, the scrips moved down and were ruling at Rs. 249 while the volume of traded shares stood at 35 lakhs. The Initial Public Offering was oversubscribed 22 times.

The 100 per cent book-built issue received the maximum bids at the upper end of the price band of Rs. 200-230 per share and majority of the retail bids came at the cut-off price.

Murthy wishes Patni `all the best'

The Chairman of Infosys Technologies, N. R. Narayana Murthy, who once worked for Patni Computer Systems Ltd., today wished the Mumbai-based company "all the best'' on its first day of listing on BSE.

"I was an employee with Patni, and Narendra Patni was my boss,'' Mr. Murthy said, adding that those were "definitely some of the best times of my life.'' Patni was a ``very good company,'' and some of the best people in Infosys came from the Mumbai-based IT company, he said.

PTI

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