Johnsoncab Electricals Ltd. makes a strong debut on the bourses with scrip got listed at Rs 238.50 on the Bombay Stock Exchange, a 19.25 per cent premium to its issue price of Rs 200.00.
The company, which raised 0.28 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 28.01 lakhs shares.
The company, listed under MT Group Securities post its IPO, opened for subscription from Oct 30 to Nov 03.
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 (i) Construction of additional Factory Shed for expansion(ii) Plant & Machinerya) Purchase of additional plant & machinery for increasing the production capacityb) Purchase new machinery to manufacture “Paper Insulated Copper / Aluminium Conductorsc) Purchase and set up a rooftop solar power plant) Additional Working Capital Requirement) General Corporate Purposes.
ISK ADVISORS PRIVATE LIMITED as lead managers & Maashitla Securities Pvt. Ltd. is the registrar, to the issue.
Meanwhile, the broader benchmark BSE Sensex closed trade at 79,310.01, up 2,008.61 points, or 2.59 per cent.