Nissan Copper ends with 230% premium

Great day for Nissan Copper, which listed at Rs 40 on the BSE and went upto Rs 135.70 as it witnessed buying interest through the day. It was one of the great performers like Tantia Construction, which rose by more than 300% on the listing day in the year 2006. Nissan Copper gained over 248%.

Institutional investors had a lot of appetite for the stock during the day. Though the issue was oversubscribed 4.7 times, it received tremendous response from investors despite volatility in the markets.

On the BSE, the share closed at Rs 128.80, up 230.26%, with volumes of 6,11,22,553 shares. It touched an intraday high of Rs 135.70 and an intraday low of Rs 40.

On the NSE, the share ended at Rs 123.30, up 216.15%, with volumes of 6,99,69,755 shares. It touched an intraday high of Rs 136.90 and an intraday low of Rs 39.

The company entered capital market with an initial public offering, IPO of 64.10 lakh shares of Rs 10 each aggregating to Rs 25 crore.

The funds raised are for the expansion of the company's copper product manufacturing capacities.

The total cost of the project is Rs 35 crore of which Rs 10 crore is part-funded by State Bank of India by way of a term loan.