Anand Rayons Ltd. debuts with 4.62% premium at Rs 28.25
03/07/2019 16:00
Anand Rayons Ltd. makes a strong debut on the bourses with scrip got listed at Rs 28.25 on the Bombay Stock Exchange, a 4.62 per cent premium to its issue price of Rs 27.00.

The company, which raised 0.47 Cr from initial public offering, was subscribed 1.11 times, receiving bids for 52.04 lakhs shares against the total issue size of 46.88 lakhs shares.

The company, listed under MT Group Securities post its IPO, opened for subscription from Jun 18 to Jun 24.

Following a strong opening, the scrip touched an intraday high of Rs 28.25 and a low of Rs 27.05, before closing the session up by 0.74 per cent to its listing price at Rs 27.20 on the BSE.

The company anticipates using the proceeds of the issue for Incremental Working capital requirements, General Corporate Purpose, Meeting Public Issue Expenses.

Guiness Corporate Advisors Pvt. Ltd. as lead managers & Bigshare Services Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 39,816.48, up 129.98 points, or 0.32 per cent.