DRS Dilip Roadlines Ltd. debuts with 0.20% premium at Rs 75.15
10/12/2018 20:50
DRS Dilip Roadlines Ltd. makes a strong debut on the bourses with scrip got listed at Rs 75.15 on the Bombay Stock Exchange, a 0.20 per cent premium to its issue price of Rs 75.00. On the National Stock Exchange, the stock was listed at Rs 75.15.

The company, which raised 0.42 Cr from initial public offering, was subscribed 1.09 times, receiving bids for 45.65 lakhs shares against the total issue size of 42.00 lakhs shares.

The company, listed under ST Group Securities post its IPO, opened for subscription from Nov 27 to Nov 30.

Following a strong opening, the scrip touched an intraday high of Rs 75.45 and a low of Rs 75.10, before closing the session up by 0.20 per cent to its listing price at Rs 75.15 on the NSE.

The company anticipates using the proceeds of the issue for (a) Repayment of Unsecured Loans,(b) Setting up Additional Warehouse in the state of Telangana,(c) Acquiring Additional Branches for Expansion of business,(d) Part repayment of the Cash Credit facilities,(e) Part repayment of the term loans and,(f) General Corporate Purposes.

ARYAMAN FINANCIAL SERVICES LIMITED as lead managers & Bigshare Services Pvt Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark NSE Nifty closed trade at 10,488.45, down 205.25 points, or 1.91 per cent.