MPK Steels (I) Ltd. makes a strong debut on the bourses with scrip got listed at Rs 80.00 on the Bombay Stock Exchange, a 1.26 per cent premium to its issue price of Rs 79.00.
The company, which raised 0.33 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 32.58 lakhs shares.
The company, listed under MT Group Securities post its IPO, opened for subscription from Sep 26 to Sep 30.
Following a strong 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 BSE.
The company anticipates using the proceeds of the issue for i Capital Expenditure towards purchase of Machinery & Diesii Capital Expenditure towards installation of Solar Plantiii To meet Working Capital Requirementsiv General Corporate Purposes.
Gretex Corporate Services Ltd. as lead managers & Maashitla Securities Pvt. Ltd. is the registrar, to the issue.
Meanwhile, the broader benchmark BSE Sensex closed trade at 81,207.17, up 223.86 points, or 0.27 per cent.