Sandhar Tech makes quite debut on BSE; lists at 4% premium
02/04/2018
Shares of Sandhar Technologies made a flat debut at the bourses on Monday by listing at Rs 345, at 4 per cent premium against its issue price of Rs 332 per share on the Bombay Stock Exchange (BSE). The auto component maker, which received bids for 67 million shares against the total issue size of 10.87 million shares from the initial public offer (IPO), listed at Rs 346 on the National Stock Exchange (NSE). During the day’s trade so far, scrip of the company touched an intra-day high and low of Rs 351.45 and Rs 333.00 respectively on the BSE. The Rs 5,125 million initial public offer (IPO) of the company was subscribed 6.19 times. The price band for the offer was fixed at Rs 327-332. ICICI Securities and Axis Capital are managing the issue. The company plans to use a portion of the net proceeds towards repayment of certain loan facilities and for other general corporate purposes. Meanwhile, the broader benchmark BSE Sensex was trading at 33,162.90, up 194.22 points, or 0.59 per cent, at 13:25 hours.
02/04/2018
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Shares of Sandhar Technologies made a flat debut at the bourses on Monday by listing at Rs 345, at 4 per cent premium against its issue price of Rs 332 per share on the Bombay Stock Exchange (BSE). The auto component maker, which received bids for 67 million shares against the total issue size of 10.87 million shares from the initial public offer (IPO), listed at Rs 346 on the National Stock Exchange (NSE). During the day’s trade so far, scrip of the company touched an intra-day high and low of Rs 351.45 and Rs 333.00 respectively on the BSE. The Rs 5,125 million initial public offer (IPO) of the company was subscribed 6.19 times. The price band for the offer was fixed at Rs 327-332. ICICI Securities and Axis Capital are managing the issue. The company plans to use a portion of the net proceeds towards repayment of certain loan facilities and for other general corporate purposes. Meanwhile, the broader benchmark BSE Sensex was trading at 33,162.90, up 194.22 points, or 0.59 per cent, at 13:25 hours.
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