NEW DELHI – Sahasra Electronics Solutions saw its shares open at INR537.70 ($6.40) in its initial public offering on India's NSE SME exchange, marking a 90% premium on the issue price of INR283 ($3.37) per share.

The Noida, India-based electronics manufacturer specializes in a range of products and services, including printed circuit board assemblies, box builds, LED lighting, memory, IT accessories and computer hardware. The company said is intends to use the funds raised from its IPO for several initiatives, including the installation of additional machinery at its new manufacturing facility in Bhiwadi, India, as well as investing in its subsidiary, Sahasra Semiconductors, for further capital expenditure on its plant and machinery.

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