Manilam Industries India Ltd. makes a weak debut on the bourses with scrip got listed at Rs 55.20 on the Bombay Stock Exchange, a 20.00 per cent discount to its issue price of Rs 69.00. On the National Stock Exchange, the stock was listed at Rs 55.20.
The company, which raised 0.58 Cr from initial public offering, was subscribed 5.91 times, receiving bids for 342.19 lakhs shares against the total issue size of 57.90 lakhs shares.
The company, listed under ST Group Securities post its IPO, opened for subscription from Feb 20 to Feb 24.
Following a weak opening, the scrip touched an intraday high of Rs 55.20 and a low of Rs 52.45, before closing the session up by 23.98 per cent to its listing price at Rs 52.45 on the NSE.
The company anticipates using the proceeds of the issue for .
Nexgen Financial Solutions Pvt. Ltd. as lead managers & MAS Services Ltd. is the registrar, to the issue.
Meanwhile, the broader benchmark NSE Nifty closed trade at 25,178.65, down 317.90 points, or 1.24 per cent.