Prataap Snacks makes strong debut; lists at 35% premium
05/10/2017
MP-based snack food company, Prataap Snacks, kicked-off trading on the Bombay Stock Exchange on strong note by listing at Rs 1,270, a 35 per cent premium against its initial public offer (IPO) price of Rs 938 per share. In a similar trend, shares of the company, which had got overwhelming response for its initial public offering, listed at premium at Rs 1,270 on the National Stock Exchange. After making a strong debut, shares of company were currently trading at Rs 1152.50 apiece, hitting an intra-day highs and lows of Rs 1317.05 and Rs 1137.00, respectively on the BSE. During the day’s trade so far, as much as 13.08 lakh shares have changed hands on the counter . “The equity shares of Prataap Snacks Ltd (Scrip Code: 540724) are listed and admitted to dealings on the Exchange in the list of 'B' Group Securities.,” said the company in a filing to the Bombay Stock Exchange. The IPO, which was opened for public subscription from September 22-26, had fixed a price band of Rs 930-938 per equity share. The company, which makes products under the 'Yellow Diamond' brand, aims to use the proceeds to expand capacity, marketing and brand building activities and retire the debt on its books. Edelweiss, JM Financial and Spark Capital are managing the issue. Meanwhile, the broader benchmark BSE Sensex was trading at 31,631.09, down 40.62 points, or 0.13 per cent, at 11:55 hours.
05/10/2017
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MP-based snack food company, Prataap Snacks, kicked-off trading on the Bombay Stock Exchange on strong note by listing at Rs 1,270, a 35 per cent premium against its initial public offer (IPO) price of Rs 938 per share. In a similar trend, shares of the company, which had got overwhelming response for its initial public offering, listed at premium at Rs 1,270 on the National Stock Exchange. After making a strong debut, shares of company were currently trading at Rs 1152.50 apiece, hitting an intra-day highs and lows of Rs 1317.05 and Rs 1137.00, respectively on the BSE. During the day’s trade so far, as much as 13.08 lakh shares have changed hands on the counter . “The equity shares of Prataap Snacks Ltd (Scrip Code: 540724) are listed and admitted to dealings on the Exchange in the list of 'B' Group Securities.,” said the company in a filing to the Bombay Stock Exchange. The IPO, which was opened for public subscription from September 22-26, had fixed a price band of Rs 930-938 per equity share. The company, which makes products under the 'Yellow Diamond' brand, aims to use the proceeds to expand capacity, marketing and brand building activities and retire the debt on its books. Edelweiss, JM Financial and Spark Capital are managing the issue. Meanwhile, the broader benchmark BSE Sensex was trading at 31,631.09, down 40.62 points, or 0.13 per cent, at 11:55 hours.
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