IPO Listing Updates

Barak Valley Cements on Friday surged 33.45 per cent over its issue price of Rs 42 to settle at Rs 56.05 on the Bombay Stock Exchange.

The scrip opened at Rs 65 and touched an intra-day high of Rs 72 and a low of Rs 53.10. A total of over 84.73 lakh equity shares changed hands at BSE.

The initial public offer (IPO) of the cement manufacturer had received robust response from investors and was subscribed around 29 times.

The money raised through IPO would be used to fund the production capacity expansion programmes, the company said. BVCL has earmarked an investment of Rs 55 crore for purchasing and upgrading its equipment and other expansion plans in the two units.

While, the scrip of steel manufacturer Rathi Bars fell below its issue price to Rs 31.90. Earlier in the morning, the company got listed with a marginal premium of 8.57 per cent at Rs 38.

The scrip touched an intra-day high of Rs 45 and a total of 62.48 lakh shares changed hands at the BSE.

The company will list its 71.43 lakh equity shares. The proceeds from the issue would be utilised for expansion and modernisation including purchase of plant and machinery, building and civil works, requirement of working capital, preliminary expenses and production launch expenses.

Further, Allied Computers International scrip surged 214 per cent to end at Rs 37.70.

The scrip touched an intra-day high of Rs 41.25 over its issue price of Rs 12. A total of 2.74 crore shares changed hands at the BSE.