Dangee Dums Ltd. debuts with 21.48% premium at Rs 89.90
03/09/2018 18:00
Dangee Dums Ltd. makes a strong debut on the bourses with scrip got listed at Rs 89.90 on the Bombay Stock Exchange, a 21.48 per cent premium to its issue price of Rs 74.00. On the National Stock Exchange, the stock was listed at Rs 89.90.

The company, which raised 0.27 Cr from initial public offering, was subscribed 59.65 times, receiving bids for 1,617.71 lakhs shares against the total issue size of 27.12 lakhs shares.

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

Following a strong opening, the scrip touched an intraday high of Rs 94.35 and a low of Rs 89.50, before closing the session up by 27.50 per cent to its listing price at Rs 94.35 on the NSE.

The company anticipates using the proceeds of the issue for Repayment of Existing Secured Loans, Purchase of Fixed Assets, General Corporate Expense, Issue Expenses.

Monarch Networth Capital 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.