Galactico Corporate Services Ltd. debuts with 0.86% premium at Rs 23.20
09/10/2019 22:30
Galactico Corporate Services Ltd. makes a strong debut on the bourses with scrip got listed at Rs 23.20 on the Bombay Stock Exchange, a 0.86 per cent premium to its issue price of Rs 23.00.

The company, which raised 0.16 Cr from initial public offering, was subscribed 1.10 times, receiving bids for 17.69 lakhs shares against the total issue size of 16.08 lakhs shares.

The company, listed under MT Group Securities post its IPO, opened for subscription from Sep 24 to Sep 27.

Following a strong opening, the scrip touched an intraday high of Rs 23.20 and a low of Rs 23.05, before closing the session up by 0.21 per cent to its listing price at Rs 23.05 on the BSE.

The company anticipates using the proceeds of the issue for (a) Repayment of Unsecured loans,(b) Funding expenditure for General Corporate Purposes.

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

Meanwhile, the broader benchmark BSE Sensex closed trade at 38,177.95, up 645.97 points, or 1.72 per cent.