Lalithaa Jewellery Mart Ltd. makes a strong debut on the bourses with scrip got listed at Rs 265.30 on the Bombay Stock Exchange, a 31.99 per cent premium to its issue price of Rs 201.00. On the National Stock Exchange, the stock was listed at Rs 265.00.
The company, which raised 8.46 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 845.77 lakhs shares.
The company, listed under B Group Securities post its IPO, opened for subscription from Aug 17 to Aug 19.
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 BSE.
The company anticipates using the proceeds of the issue for (a) Capital expenditure for fitouts in the nature of furniture and fixtures, equipment, IT hardware and software(b) Expenditure towards inventory costs for setting up of New Stores General corporate purposes.
ANAND RATHI ADVISORS LTD,Equirus Capital Pvt. Ltd. as lead managers & MUFG Intime India Pvt. Ltd. is the registrar, to the issue.
Meanwhile, the broader benchmark BSE Sensex closed trade at 77,540.83, down 3.11 points, or 0.00 per cent.