Gallantt Ispat lists with 4 pc premium at Rs 52

MUMBAI: Mumbai, Oct 11 (PTI) Iron and steel manufacturer Gallantt Ispat on Monday listed at Rs 52 on the National Stock Exchange, reflecting a gain of 4 per cent over the issue price.

Within first 30 minutes, over one crore shares of the Uttar Pradesh-based company were traded at the bourse.

The company had raised Rs 40.5 crore through the public offer at an issue price of Rs 50 a share. The company will use the funds raised to part-finance the setting up of the integrated steel plant at Gorakhpur in Uttar Pradesh.

Meanwhile, the broader market barometer Sensex was quoting higher by 135.22 points at 20,385.48 points.