Precision Pipes lists at Rs 165 on NSE
Shares of Precision Pipes listed Friday at Rs 165 on National Stock Exchange, premium of Rs 15 or 10 per cent against issue price of Rs 150 per share.
By INDIATIMES NEWS NETWORK |
MUMBAI: Shares of Precision Pipes listed Friday at Rs 165 on National Stock Exchange, premium of Rs 15 or 10 per cent against issue price of Rs 150 per share.
At 9:58 am, the share was at Rs 156.05, up 4.03 per cent on volume of 5,26,687 shares. It touched a high of Rs 175 and low of Rs 153.30.
The stock opened at Rs 160 on the BSE. It touched a high of Rs 175 and low of Rs 144 on volume of 8,49,448 shares.
The initial public offer of Precision Pipes was subscribed 7.21 times. CRISIL had assigned Grade '4/5' to the issue, indicating its fundamentals are above average relative to other listed equities.
Precision Pipes has raised around Rs 75 crore from the IPO and plans to use the proceeds for setting up two manufacturing plants for auto components and electrical outlet system products for Power and Data Corporation of Australia. It will aso use the funds to part-finance the doubling of capacity at a total outlay of Rs 94.6 crore.
At 9:58 am, the share was at Rs 156.05, up 4.03 per cent on volume of 5,26,687 shares. It touched a high of Rs 175 and low of Rs 153.30.
The stock opened at Rs 160 on the BSE. It touched a high of Rs 175 and low of Rs 144 on volume of 8,49,448 shares.
The initial public offer of Precision Pipes was subscribed 7.21 times. CRISIL had assigned Grade '4/5' to the issue, indicating its fundamentals are above average relative to other listed equities.
Precision Pipes has raised around Rs 75 crore from the IPO and plans to use the proceeds for setting up two manufacturing plants for auto components and electrical outlet system products for Power and Data Corporation of Australia. It will aso use the funds to part-finance the doubling of capacity at a total outlay of Rs 94.6 crore.
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