Northern Spirits Ltd. debuts with 1.62% premium at Rs 43.70
04/04/2019 18:40
Northern Spirits Ltd. makes a strong debut on the bourses with scrip got listed at Rs 43.70 on the Bombay Stock Exchange, a 1.62 per cent premium to its issue price of Rs 43.00.

The company, which raised 0.43 Cr from initial public offering, was subscribed 1.21 times, receiving bids for 52.05 lakhs shares against the total issue size of 43.02 lakhs shares.

The company, listed under MT Group Securities post its IPO, opened for subscription from Mar 22 to Mar 27.

Following a strong opening, the scrip touched an intraday high of Rs 43.70 and a low of Rs 41.55, before closing the session up by 0.23 per cent to its listing price at Rs 43.10 on the BSE.

The company anticipates using the proceeds of the issue for A To meet the working capital requirements of the company,B To meet the Issue Expenses,C General Corporate Purposes.

Finshore Management Services Ltd. as lead managers & CAMEO CORPORATE SERVICES LTD is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 38,684.72, down 192.40 points, or 0.49 per cent.