Moxsh Overseas Educon Ltd. makes a weak debut on the bourses with scrip got listed at Rs 131.00 on the Bombay Stock Exchange, a 14.37 per cent discount to its issue price of Rs 153.00. On the National Stock Exchange, the stock was listed at Rs 131.00.
The company, which raised 0.07 Cr from initial public offering, was subscribed 94.30 times, receiving bids for 641.99 lakhs shares against the total issue size of 6.81 lakhs shares.
The company, listed under ST Group Securities post its IPO, opened for subscription from Dec 21 to Dec 23.
Following a weak opening, the scrip touched an intraday high of Rs [BSEHighPrice] and a low of Rs [NSEHighPrice], before closing the session [UpDown] by [ChangePer] per cent to its listing price at Rs [ClosingPriceBSE] on the NSE.
The company anticipates using the proceeds of the issue for Meeting the working capital requirements Expenditure to enhance visibility and awareness of the brands General corporate purposes.
Fedex Securities Private Limited as lead managers & Bigshare Services Private Limited. is the registrar, to the issue.
Meanwhile, the broader benchmark NSE Nifty closed trade at 18,191.00, up 68.50 points, or 0.37 per cent.