Ratnaveer Precision Engineering Ltd. makes a strong debut on the bourses with scrip got listed at Rs 128.00 on the Bombay Stock Exchange, a 30.61 per cent premium to its issue price of Rs 98.00. On the National Stock Exchange, the stock was listed at Rs 123.20.
The company, which raised 1.68 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 168.40 lakhs shares.
The company, listed under T Group Securities post its IPO, opened for subscription from Sep 04 to Sep 06.
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 Funding working capital requirements of the Company General corporate purposes.
Unistone Capital Pvt. Ltd. as lead managers & Link Intime India Private Limited is the registrar, to the issue.
Meanwhile, the broader benchmark BSE Sensex closed trade at 66,598.91, up 333.35 points, or 0.50 per cent.