Aaron Industries Ltd. debuts with 5.00% discount at Rs 36.10
03/09/2018 18:00
Aaron Industries Ltd. makes a weak debut on the bourses with scrip got listed at Rs 36.10 on the Bombay Stock Exchange, a 5.00 per cent discount to its issue price of Rs 38.00. On the National Stock Exchange, the stock was listed at Rs 36.10.

The company, which raised 0.13 Cr from initial public offering, was subscribed 2.17 times, receiving bids for 27.28 lakhs shares against the total issue size of 12.57 lakhs shares.

The company, listed under ST Group Securities post its IPO, opened for subscription from Aug 20 to Aug 24.

Following a weak opening, the scrip touched an intraday high of Rs 39.60 and a low of Rs 36.10, before closing the session up by 1.84 per cent to its listing price at Rs 38.70 on the NSE.

The company anticipates using the proceeds of the issue for A The Objects of the Issue are,a To set up a new line of business in expansion plan,b To meet working capital requirement,c To meet the Public Issue Expenses.

Gretex Corporate Services Pvt. Ltd. as lead managers & Bigshare Services Pvt Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark NSE Nifty closed trade at 11,582.35, down 98.15 points, or 0.84 per cent.