Earthstahl & Alloys Ltd. makes a strong debut on the bourses with scrip got listed at Rs 55.00 on the Bombay Stock Exchange, a 37.50 per cent premium to its issue price of Rs 40.00.
The company, which raised 0.32 Cr from initial public offering, was subscribed 223.06 times, receiving bids for 7,227.14 lakhs shares against the total issue size of 32.40 lakhs shares.
The company, listed under MT Group Securities post its IPO, opened for subscription from Jan 27 to Jan 31.
Following a strong 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 BSE.
The company anticipates using the proceeds of the issue for .
Hem Securities Ltd. as lead managers & Bigshare Services Private Limited. is the registrar, to the issue.
Meanwhile, the broader benchmark BSE Sensex closed trade at 60,286.04, down 220.86 points, or 0.36 per cent.