Lead Reclaim and Rubber Products Ltd. makes a strong debut on the bourses with scrip got listed at Rs 27.50 on the Bombay Stock Exchange, a 10.00 per cent premium to its issue price of Rs 25.00. On the National Stock Exchange, the stock was listed at Rs 27.50.
The company, which raised 0.20 Cr from initial public offering, was subscribed 71.28 times, receiving bids for 1,389.96 lakhs shares against the total issue size of 19.50 lakhs shares.
The company, listed under ST Group Securities post its IPO, opened for subscription from Feb 09 to Feb 13.
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 NSE.
The company anticipates using the proceeds of the issue for Funding the working capital requirements Purchase of plant and machinery for augmenting the Manufacturing Facility 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 17,844.60, down 99.60 points, or 0.55 per cent.