Supreme Engineering Ltd. debuts with 15.31% discount at Rs 27.10
06/09/2018 21:10
Supreme Engineering Ltd. makes a weak debut on the bourses with scrip got listed at Rs 27.10 on the Bombay Stock Exchange, a 15.31 per cent discount to its issue price of Rs 32.00. On the National Stock Exchange, the stock was listed at Rs 27.10.

The company, which raised 0.66 Cr from initial public offering, was subscribed 1.02 times, receiving bids for 67.16 lakhs shares against the total issue size of 65.84 lakhs shares.

The company, listed under ST Group Securities post its IPO, opened for subscription from Aug 24 to Aug 29.

Following a weak opening, the scrip touched an intraday high of Rs 27.80 and a low of Rs 26.00, before closing the session up by 14.84 per cent to its listing price at Rs 27.25 on the NSE.

The company anticipates using the proceeds of the issue for (A) Acquisition of Plant & Machinery(B) Upgradation of existing technology meet General Corporate Expenses, meet IPO Issue Expenses.

CKP Financial 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 11,536.90, up 59.95 points, or 0.52 per cent.