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News Details

( As on 04/12/2024 10:50)

Abha Power and Steel Ltd. debuts with 9.20% premium at Rs 81.90

Abha Power and Steel Ltd. makes a strong debut on the bourses with scrip got listed at Rs 81.90 on the Bombay Stock Exchange, a 9.20 per cent premium to its issue price of Rs 75.00. On the National Stock Exchange, the stock was listed at Rs 81.90.

The company, which raised 0.51 Cr from initial public offering, was subscribed 16.77 times, receiving bids for 861.84 lakhs shares against the total issue size of 51.39 lakhs shares.

The company, listed under ST Group Securities post its IPO, opened for subscription from Nov 27 to Nov 29.

Following a strong opening, the scrip touched an intraday high of Rs [BSEHighPrice] and a low of Rs [NSEHighPrice], before closing the session [UpDown] by [ChangePer] per cent to its listing price at Rs [ClosingPriceBSE] on the NSE.

The company anticipates using the proceeds of the issue for .

Horizon Management Pvt. Ltd. as lead managers & Skyline Financial Services Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark NSE Nifty closed trade at 24,457.15, up 181.10 points, or 0.74 per cent.