QMS Medical Allied Services Ltd. makes a strong debut on the bourses with scrip got listed at Rs 128.00 on the Bombay Stock Exchange, a 5.78 per cent premium to its issue price of Rs 121.00. On the National Stock Exchange, the stock was listed at Rs 128.00. The company, which raised 0.47 Cr from initial public offering, was subscribed 0.83 times, receiving bids for 39.01 lakhs shares against the total issue size of 47.00 lakhs shares. The company, listed under ST Group Securities post its IPO, opened for subscription from Sep 27 to Sep 30. Following a strong opening, the scrip touched an intraday high of Rs 134.40 and a low of Rs 128.00, before closing the session up by 11.07 per cent to its listing price at Rs 134.40 on the NSE.
The company anticipates using the proceeds of the issue for Funding additional Working capital requirements General Corporate Purposes. FIRST OVERSEAS CAPITAL LIMITED as lead managers & Bigshare Services Pvt. Ltd. is the registrar, to the issue. Meanwhile, the broader benchmark NSE Nifty closed trade at 16,983.55, down 257.45 points, or 1.49 per cent.