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News Details

Prevest Denpro Ltd. debuts with 114.94% premium at Rs 180.55

Back
27/09/2021 19:40
Prevest Denpro Ltd. makes a strong debut on the bourses with scrip got listed at Rs 180.55 on the Bombay Stock Exchange, a 114.94 per cent premium to its issue price of Rs 84.00.

The company, which raised 0.32 Cr from initial public offering, was subscribed 37.25 times, receiving bids for 1,180.08 lakhs shares against the total issue size of 31.68 lakhs shares.

The company, listed under MT Group Securities post its IPO, opened for subscription from Sep 15 to Sep 17.

Following a strong opening, the scrip touched an intraday high of Rs 189.55 and a low of Rs 180.55, before closing the session up by 125.65 per cent to its listing price at Rs 189.55 on the BSE.

The company anticipates using the proceeds of the issue for Purchase of machineries, equipments and utilities for manufacturing of proposed additional line of products, R&D unit andexisting manufacturing operations General Corporate Purpose To meet issue expenses.

Hem Securities Ltd as lead managers & Bigshare Services Pvt. Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 60,077.88, up 29.41 points, or 0.04 per cent.