Veekayem Fashion & Apparels Ltd. debuts with 78.21% premium at Rs 49.90
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Veekayem Fashion & Apparels Ltd. makes a strong debut on the bourses with scrip got listed at Rs 49.90 on the Bombay Stock Exchange, a 78.21 per cent premium to its issue price of Rs 28.00. On the National Stock Exchange, the stock was listed at Rs 49.90. The company, which raised 0.16 Cr from initial public offering, was subscribed 272.30 times, receiving bids for 4,313.23 lakhs shares against the total issue size of 15.84 lakhs shares.
The company, listed under ST Group Securities post its IPO, opened for subscription from Aug 05 to Aug 11. Following a strong opening, the scrip touched an intraday high of Rs 52.35 and a low of Rs 47.45, before closing the session up by 78.57 per cent to its listing price at Rs 50.00 on the NSE. The company anticipates using the proceeds of the issue for a) Funding the working capital requirements of the companyb) General Corporate Purposes. GYR CAPITAL ADVISORS PRIVATE LIMITED as lead managers & KFIN Technologies Pvt. Ltd. is the registrar, to the issue. Meanwhile, the broader benchmark NSE Nifty closed trade at 17,490.70, down 267.75 points, or 1.50 per cent.
