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Tranway Technologies Ltd. debuts with 11.00% premium at Rs 11.10

Share Source By

Dion Global

05 Feb 2020

Tranway Technologies Ltd. makes a strong debut on the bourses with scrip got listed at Rs 11.10 on the Bombay Stock Exchange, a 11.00 per cent premium to its issue price of Rs 10.00.

The company, which raised 0.42 Cr from initial public offering, was subscribed 1.88 times, receiving bids for 79.71 lakhs shares against the total issue size of 42.40 lakhs shares.

The company, listed under TS Group Securities post its IPO, opened for subscription from Jan 27 to Jan 29.

Following a strong opening, the scrip touched an intraday high of Rs 11.65 and a low of Rs 11.10, before closing the session up by 16.50 per cent to its listing price at Rs 11.65 on the BSE.

The company anticipates using the proceeds of the issue for A To meet the working capital requirements of the company for business operations and expansion in India and AbroadB To meet the Issue ExpensesC General Corporate Purposes.

Finshore Management Services Ltd. as lead managers & Link Intime India Private Limited is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 41,142.66, up 353.28 points, or 0.86 per cent.