Network People Services Technologies Ltd. debuts with 4.93% premium at Rs 83.95
Network People Services Technologies Ltd. makes a strong debut on the bourses with scrip got listed at Rs 83.95 on the Bombay Stock Exchange, a 4.93 per cent premium to its issue price of Rs 80.00. On the National Stock Exchange, the stock was listed at Rs 83.95. The company, which raised 0.17 Cr from initial public offering, was subscribed 26.06 times, receiving bids for 446.13 lakhs shares against the total issue size of 17.12 lakhs shares.
The company, listed under ST Group Securities post its IPO, opened for subscription from Jul 28 to Aug 02. Following a strong opening, the scrip touched an intraday high of Rs [BSEHighPrice] and a low of Rs [NSEHighPrice], before closing the session [UpDown] by [ChangePer] per cent to its listing price at Rs [ClosingPriceBSE] on the NSE. The company anticipates using the proceeds of the issue for To develop mobile application in the name of TimePay To acquire IT hardware and equipments Marketing and promotion of TimePay To meet general corporate expenses. HOLANI CONSULTANTS PVT. LTD.,BOI Merchant Bankers Limited as lead managers & Link Intime India Private Limited is the registrar, to the issue. Meanwhile, the broader benchmark NSE Nifty closed trade at 16,258.25, up 20.05 points, or 0.12 per cent.
