Jinaam's Dress Ltd. debuts with 0.00% discount at Rs 59.00
26/04/2019 20:10
Jinaam's Dress Ltd. makes a flat debut on the bourses with scrip got listed at Rs 59.00 on the Bombay Stock Exchange, a 0.00 per cent discount to its issue price of Rs 59.00.

The company, which raised 0.72 Cr from initial public offering, was subscribed 1.11 times, receiving bids for 79.92 lakhs shares against the total issue size of 72.00 lakhs shares.

The company, listed under MT Group Securities post its IPO, opened for subscription from Apr 09 to Apr 15.

Following a flat opening, the scrip touched an intraday high of Rs 59.00 and a low of Rs 56.05, before closing the session up by 4.91 per cent to its listing price at Rs 56.10 on the BSE.

The company anticipates using the proceeds of the issue for ) Purchase of Machineries,) Augmenting the long term working capital requirements of the Company,) Repayment of certain debt facilities availed by the Company,) General corporate purposes,) To meet the Issue related expenses.

SMC Capitals Limited as lead managers & Bigshare Services Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 39,067.33, up 336.47 points, or 0.86 per cent.