Riddhi Display Equipments Ltd. makes a weak debut on the bourses with scrip got listed at Rs 80.00 on the Bombay Stock Exchange, a 20.00 per cent discount to its issue price of Rs 100.00.

The company, which raised 0.25 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 24.68 lakhs shares.

The company, listed under MT Group Securities post its IPO, opened for subscription from Dec 08 to Dec 10.

Following a weak 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 BSE.

The company anticipates using the proceeds of the issue for a Capital expenditure towards interior work and for purchase of new equipment/machineries for setting up of Manufacturing cum assembly Unit at Lucknow, Uttar Pradesh,b Capital expenditure towards purchase of new equipment/machineries/software etc for upgradation of existing Manufacturing Unit of the Company located at Gondal, Rajkot,c Capital expenditure towards setting up of Showroom at Gondal, Rajkot,d Funding working capital requirements,e General Corporate Purpose.

Jawa Capital Services Pvt. Ltd. as lead managers & Maashitla Securities Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 85,267.66, up 449.53 points, or 0.52 per cent.