Manaksia lists at 9.56% on NSE

MUMBAI: Manaksia listed Tuesday at Rs 175.30 on the National Stock Exchange, premium of 9.56 per cent or Rs 15.3 to the issue price of Rs 160. At 9:58, the share was up 19.31 per cent or Rs 30.90 at Rs 190.90. It touched a high of Rs 212 and low of Rs 175.10 in trade so far. Around 33,05,438 shares were traded in the counter.

On the BSE, the stock opened at Rs 185. It touched a high of Rs 248.70 and low of Rs 175 on volume of 30,05,561 shares. Manaksia had offered 15,500,000 equity shares of Rs 2 each at a price band between Rs 140 and Rs 160 per equity share. It was subscribed 8.79 times. The company will use net proceeds for expansion of metals business by purchase of capital equipment and prepayment of certain term debt.