Ushanti Colour Chem Ltd. debuts with 7.00% premium at Rs 64.20
02/08/2018 21:31
Ushanti Colour Chem Ltd. makes a strong debut on the bourses with scrip got listed at Rs 64.20 on the Bombay Stock Exchange, a 7.00 per cent premium to its issue price of Rs 60.00. On the National Stock Exchange, the stock was listed at Rs 64.20.

The company, which raised 0.19 Cr from initial public offering, was subscribed 5.78 times, receiving bids for 111.32 lakhs shares against the total issue size of 19.26 lakhs shares.

The company, listed under ST Group Securities post its IPO, opened for subscription from Jul 23 to Jul 25.

Following a strong opening, the scrip touched an intraday high of Rs 67.40 and a low of Rs 64.20, before closing the session up by 12.33 per cent to its listing price at Rs 67.40 on the NSE.

The company anticipates using the proceeds of the issue for To finance setting up of Dyestuff Pigment and Intermediates manufacturing facility at GIDC Saykha Industrial Estate, Bharuch, Repayment/prepayment of certain secured borrowings availed by the Company; and, General corporate purposes.

Pantomath Capital Advisors Pvt. Ltd. as lead managers & Bigshare Services Pvt Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark NSE Nifty closed trade at 11,244.70, down 101.50 points, or 0.89 per cent.