Gensol Engineering Ltd. debuts with 2.89% premium at Rs 85.40
16/10/2019 15:20
Gensol Engineering Ltd. makes a strong debut on the bourses with scrip got listed at Rs 85.40 on the Bombay Stock Exchange, a 2.89 per cent premium to its issue price of Rs 83.00.

The company, which raised 0.22 Cr from initial public offering, was subscribed 1.26 times, receiving bids for 27.14 lakhs shares against the total issue size of 21.60 lakhs shares.

The company, listed under MT Group Securities post its IPO, opened for subscription from Sep 30 to Oct 04.

Following a strong opening, the scrip touched an intraday high of Rs 89.50 and a low of Rs 83.50, before closing the session up by 3.91 per cent to its listing price at Rs 86.25 on the BSE.

The company anticipates using the proceeds of the issue for Funding the working capital requirements of the Company General corporate purposes.

Pantomath Capital Advisors Pvt. Ltd. as lead managers & LINK INTIME INDIA PRIVATE LIMITED is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 38,506.09, up 291.62 points, or 0.76 per cent.