Oriana Power Ltd. makes a strong debut on the bourses with scrip got listed at Rs 302.00 on the Bombay Stock Exchange, a 155.93 per cent premium to its issue price of Rs 118.00. On the National Stock Exchange, the stock was listed at Rs 302.00.
The company, which raised 0.51 Cr from initial public offering, was subscribed 164.21 times, receiving bids for 8,301.80 lakhs shares against the total issue size of 50.56 lakhs shares.
The company, listed under ST Group Securities post its IPO, opened for subscription from Aug 01 to Aug 03.
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 This could include investments in technology, equipment, and infrastructure to support the growth and expansion of the business.
Corporate Capitalventures Pvt. Ltd. as lead managers & Skyline Financial Services Pvt. Ltd. is the registrar, to the issue.
Meanwhile, the broader benchmark NSE Nifty closed trade at 19,543.10, down 89.45 points, or 0.45 per cent.