Jakharia Fabric Ltd. makes a strong debut on the bourses with scrip got listed at Rs 181.35 on the Bombay Stock Exchange, a 0.75 per cent premium to its issue price of Rs 180.00. On the National Stock Exchange, the stock was listed at Rs 181.35.
The company, which raised 0.11 Cr from initial public offering, was subscribed 1.07 times, receiving bids for 11.68 lakhs shares against the total issue size of 10.92 lakhs shares.
The company, listed under ST Group Securities post its IPO, opened for subscription from Jun 29 to Jul 03.
Following a strong opening, the scrip touched an intraday high of Rs 182.45 and a low of Rs 180.75, before closing the session up by 0.83 per cent to its listing price at Rs 181.50 on the NSE.
The company anticipates using the proceeds of the issue for Part finance the setting up of processing unit through investment in M/s Jakharia Industries at MIDC Tarapur, Bhiwandi, Maharashtra, Funding Expenditure for General Corporate Purposes.
ARYAMAN FINANCIAL SERVICES LIMITED as lead managers & Bigshare Services Pvt Ltd. is the registrar, to the issue.
Meanwhile, the broader benchmark NSE Nifty closed trade at 10,948.30, down 1.05 points, or 0.00 per cent.