Manjushree Extrusions up 40% on listing
Manjushree Extrusions’ rights cum follow-on public issue listed on the BSE Thursday at Rs 48 against follow-on public offer price of Rs 45.
By INDIATIMES NEWS NETWORK |
MUMBAI: Manjushree Extrusions��� rights cum follow-on public issue listed on the BSE Thursday at Rs 48 against follow-on public offer price of Rs 45.
At 10am, the stock was at Rs 63, up Rs 18 or 40 per cent 22,79,285 shares. It touched a high of Rs 66 and low of Rs 47 in few minutes of trade.
The company raised over Rs 23 crore via follow on public.
The funds raised are proposed to be utilised to part finance the expansion cum diversification project at a cost of Rs 53.70 crore. A term loan of Rs 18 crore was sanctioned by State Bank of India for the project.
Manjushree provides packaging solutions through manufacture of specialty plastic packaging products including injection/blow molded PET/PP and multilayer plastic containers, which are being manufactured by employing Japanese and European technologies.
The company is already listed on Ahmedabad, Calcutta, and Gauhati stock exchanges.
At 10am, the stock was at Rs 63, up Rs 18 or 40 per cent 22,79,285 shares. It touched a high of Rs 66 and low of Rs 47 in few minutes of trade.
The company raised over Rs 23 crore via follow on public.
The funds raised are proposed to be utilised to part finance the expansion cum diversification project at a cost of Rs 53.70 crore. A term loan of Rs 18 crore was sanctioned by State Bank of India for the project.
Manjushree provides packaging solutions through manufacture of specialty plastic packaging products including injection/blow molded PET/PP and multilayer plastic containers, which are being manufactured by employing Japanese and European technologies.
The company is already listed on Ahmedabad, Calcutta, and Gauhati stock exchanges.
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