Manorama Industries Ltd. debuts with 1.17% premium at Rs 190.20
04/10/2018 20:10
Manorama Industries Ltd. makes a strong debut on the bourses with scrip got listed at Rs 190.20 on the Bombay Stock Exchange, a 1.17 per cent premium to its issue price of Rs 188.00.

The company, which raised 0.34 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 34.04 lakhs shares.

The company, listed under MT Group Securities post its IPO, opened for subscription from Sep 21 to Sep 25.

Following a strong opening, the scrip touched an intraday high of Rs 199.00 and a low of Rs 189.50, before closing the session up by 1.06 per cent to its listing price at Rs 190.00 on the BSE.

The company anticipates using the proceeds of the issue for Establishing an integrated Greenfield project for manufacturing of CBE / specialty fats and tailormade products at Birkoni, near Raipur, Chhattisgarh, General corporate purposes.

Pantomath Capital Advisors Private Limited as lead managers & LINK INTIME INDIA PRIVATE LIMITED is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 35,169.16, down 806.47 points, or 2.24 per cent.