Chamunda Electricals Ltd. makes a strong debut on the bourses with scrip got listed at Rs 70.00 on the Bombay Stock Exchange, a 40.00 per cent premium to its issue price of Rs 50.00. On the National Stock Exchange, the stock was listed at Rs 70.00.
The company, which raised 0.29 Cr from initial public offering, was subscribed 490.34 times, receiving bids for 14,313.02 lakhs shares against the total issue size of 29.19 lakhs shares.
The company, listed under ST Group Securities post its IPO, opened for subscription from Feb 04 to Feb 06.
Following a strong opening, the scrip touched an intraday high of Rs 71.00 and a low of Rs 66.50, before closing the session up by 33.00 per cent to its listing price at Rs 66.50 on the NSE.
The company anticipates using the proceeds of the issue for .
GYR CAPITAL ADVISORS PRIVATE LIMITED as lead managers & KFin Technologies Ltd. is the registrar, to the issue.
Meanwhile, the broader benchmark NSE Nifty closed trade at 23,071.80, down 309.80 points, or 1.32 per cent.