Nidan Laboratories And Healthcare Ltd. makes a weak debut on the bourses with scrip got listed at Rs 123.90 on the Bombay Stock Exchange, a 0.88 per cent discount to its issue price of Rs 125.00. On the National Stock Exchange, the stock was listed at Rs 123.90.
The company, which raised 0.40 Cr from initial public offering, was subscribed 1.03 times, receiving bids for 41.20 lakhs shares against the total issue size of 40.00 lakhs shares.
The company, listed under ST Group Securities post its IPO, opened for subscription from Oct 28 to Nov 02.
Following a weak opening, the scrip touched an intraday high of Rs [BSEHighPrice] and a low of Rs [NSEHighPrice], before closing the session [UpDown] by [ChangePer] per cent to its listing price at Rs [ClosingPriceBSE] on the NSE.
The company anticipates using the proceeds of the issue for ) Repayment / prepayment, in full or in part, of certain borrowings availed by the Company) Additional Working Capital) General Corporate Expenses.
FIRST OVERSEAS CAPITAL LIMITED as lead managers & Bigshare Services Pvt Ltd. is the registrar, to the issue.
Meanwhile, the broader benchmark NSE Nifty closed trade at 17,873.60, down 143.60 points, or 0.79 per cent.