Shares of Gigamon Inc (NYSE:GIMO) rose as much as 36 percent on the day of the company’s initial public offering. The networking hardware company’s IPO included 6.75 million shares which started out at $19 each. Now they’re worth over $25 each.

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Breakdown Of Gigamon’s IPO

Of those 6.75 million shares being sold by the company, 4.5 million of those shares were offered directly by the company, while shareholders sold off 2.25 million shares. The Wall Street Journal’s Nathalie Tadena reports that Gigamon Inc (NYSE:GIMO) will use to proceeds from its IPO to give its employees raises based on performance.

It will also use the cash as working capital and for other corporate purposes. Of course the company itself doesn’t receive proceeds from the sale of shares being sold by its stockholders. Gigamon Inc (NYSE:GIMO) filed for its IPO last July, saying at that time that it was looking to raise up to $100 million through the offering.

Gigamon Inc (GIMO) By The Numbers

The company manufactures devices which make it easier for administrators to control their data networks. Last year its earnings were $3.6 million, a significant decline from the company’s 2011 earnings, which were $10.1 million. In 2010, the company’s profits were $3.5 million. During the first quarter, Gigamon Inc (NYSE:GIMO) reported $1.2 million in losses—an increase over last year’s first-quarter losses of $857,000.

The company dates back to 2004 and was originally part of Gigamon Systems LLC, which owned all of its common stock. Highland Capital Partners invested in the company in January 2010 and owned all of its preferred shares through that investment.

Gigamon Follows Textura

Shares of Textura Corp (NYSE:TXTR), a tech company which had its IPO on Friday, also surged that day. Both Textura and Gigamon Inc (NYSE:GIMO) are enterprise tech companies, which is likely why their stocks soared in their debuts. Enterprise companies have been doing better than consumer tech companies like Facebook Inc (NASDAQ:FB), notes Reuters’ Ashutosh Pandey.