Mangalam Worldwide Ltd. debuts with 0.99% premium at Rs 102.00
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Mangalam Worldwide Ltd. makes a strong debut on the bourses with scrip got listed at Rs 102.00 on the Bombay Stock Exchange, a 0.99 per cent premium to its issue price of Rs 101.00. On the National Stock Exchange, the stock was listed at Rs 102.00. The company, which raised 0.65 Cr from initial public offering, was subscribed 1.15 times, receiving bids for 74.67 lakhs shares against the total issue size of 64.93 lakhs shares. The company, listed under ST Group Securities post its IPO, opened for subscription from Jun 30 to Jul 04.
Following a strong opening, the scrip touched an intraday high of Rs 104.95 and a low of Rs 96.90, before closing the session up by 1.53 per cent to its listing price at Rs 102.55 on the NSE. The company anticipates using the proceeds of the issue for To Meet Working Capital Requirements General Corporate Purpose To meet Public Issue Expenses. BEELINE BROKING LIMITED as lead managers & Link Intime India Private Limited is the registrar, to the issue. Meanwhile, the broader benchmark NSE Nifty closed trade at 16,216.00, down 4.60 points, or 0.02 per cent.
