Austral Coke lists at Rs 206 on BSE
Shares of Austral Coke and Projects listed at Rs 206, premium of 5 per cent against issue price of Rs 196, on the Bombay Stock Exchange.
By ET Online |
MUMBAI: Shares of Austral Coke and Projects listed at Rs 206, premium of 5 per cent against issue price of Rs 196, on the Bombay Stock Exchange.
The scrip surged soon after listing. At 10 am, it was at Rs 297, up Rs 101 or 51.53 per cent, on the BSE. It touched a high of Rs 308.80 and low of Rs 206. Around 701728 shares had changed in the counter so far.
On the NSE, it was at Rs 277, up Rs 81 or 41.33 per cent. It touched a high of Rs 324.85 and low of Rs 201.40 on volume of 12,24,231 shares.
Austral Coke manufactures low ash metallurgical coke. It is also in the business of equipment rental, refractory and textile trading.
The company will use the IPO proceeds to finance expansion of 150,000 tonne per annum LAM coke unit and an 8 mw captive power plant through waste heat recovery. The project is coming up at Sindhudurg in Maharashtra.
The company also plans to utilize the funds for acquiring coal mines either in Indian or abroad and retire high cost debt.
The scrip surged soon after listing. At 10 am, it was at Rs 297, up Rs 101 or 51.53 per cent, on the BSE. It touched a high of Rs 308.80 and low of Rs 206. Around 701728 shares had changed in the counter so far.
On the NSE, it was at Rs 277, up Rs 81 or 41.33 per cent. It touched a high of Rs 324.85 and low of Rs 201.40 on volume of 12,24,231 shares.
Austral Coke manufactures low ash metallurgical coke. It is also in the business of equipment rental, refractory and textile trading.
The company will use the IPO proceeds to finance expansion of 150,000 tonne per annum LAM coke unit and an 8 mw captive power plant through waste heat recovery. The project is coming up at Sindhudurg in Maharashtra.
The company also plans to utilize the funds for acquiring coal mines either in Indian or abroad and retire high cost debt.
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