Valplast Technologies Ltd. makes a strong debut on the bourses with scrip got listed at Rs 57.00 on the Bombay Stock Exchange, a 5.55 per cent premium to its issue price of Rs 54.00.
The company, which raised 0.52 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 52.02 lakhs shares.
The company, listed under MT Group Securities post its IPO, opened for subscription from Sep 30 to Oct 03.
Following a strong opening, the scrip touched an intraday high of Rs [BSEHighPrice] and a low of Rs [NSEHighPrice], before closing the session [UpDown] by [ChangePer] per cent to its listing price at Rs [ClosingPriceBSE] on the BSE.
The company anticipates using the proceeds of the issue for Funding the capital expenditure requirements of the company by purchase of Plant and Machinery Funding the Working Capital Requirement of the Company To meet out the General Corporate Purposes.
Fintellectual 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 81,926.75, up 136.63 points, or 0.16 per cent.