New listing Prakash Steelage at 23% premium
The stock saw a high of Rs 133.90 versus a low of Rs 117. Total traded quantity was 1,27,88,291shares and turnover Rs 161.50.33 crore.
By ET Bureau |
MUMBAI: Shares of Prakash Steelage Ltd today listed at Rs 122 on the National Stock Exchange, a premium of Rs 12 or 10.9 per cent to the issue price of Rs 110.
The stock saw a high of Rs 133.90 versus a low of Rs 117. Total traded quantity was 1,27,88,291shares and turnover Rs 161.50.33 crore.
At 10:30 am, the stock traded at Rs 134.10 on BSE. The share recorded a high of Rs 135 against a low of Rs 117. Total traded quantity was 1,22,13,755 shares and turnover Rs 155.48 crore.
Prakash Steelage is into seamless and welded stainless steel pipes, tubes and U tubes. The company mopped up Rs 68.75 crore from the intial public offering of 62.5 lakh equity shares priced at Rs 100-110 per share. The issue was subscribed 4.53 times.
The IPO proceeds will be used for its expansion at the existing facility at Umbergaon, Gujarat and working capital requirement.
The stock saw a high of Rs 133.90 versus a low of Rs 117. Total traded quantity was 1,27,88,291shares and turnover Rs 161.50.33 crore.
At 10:30 am, the stock traded at Rs 134.10 on BSE. The share recorded a high of Rs 135 against a low of Rs 117. Total traded quantity was 1,22,13,755 shares and turnover Rs 155.48 crore.
Prakash Steelage is into seamless and welded stainless steel pipes, tubes and U tubes. The company mopped up Rs 68.75 crore from the intial public offering of 62.5 lakh equity shares priced at Rs 100-110 per share. The issue was subscribed 4.53 times.
The IPO proceeds will be used for its expansion at the existing facility at Umbergaon, Gujarat and working capital requirement.
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