Saketh Exim Ltd. makes a strong debut on the bourses with scrip got listed at Rs 69.30 on the Bombay Stock Exchange, a 0.43 per cent premium to its issue price of Rs 69.00. On the National Stock Exchange, the stock was listed at Rs 69.30.
The company, which raised 0.14 Cr from initial public offering, was subscribed 1.21 times, receiving bids for 16.55 lakhs shares against the total issue size of 13.68 lakhs shares.
The company, listed under ST Group Securities post its IPO, opened for subscription from Aug 01 to Aug 03.
Following a strong opening, the scrip touched an intraday high of Rs 69.45 and a low of Rs 69.10, before closing the session up by 0.57 per cent to its listing price at Rs 69.40 on the NSE.
The company anticipates using the proceeds of the issue for Funding Long Term Working Capital Requirements and, 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 NSE Nifty closed trade at 11,355.75, down 73.75 points, or 0.64 per cent.