Timbor Home surges on debut

Settles at Rs 91.20 on BSE

Shares of Timbor Home settled at Rs 91.20 on BSE, a 44.76% premium over the initial public offer (IPO) price of Rs 63. The stock debuted at Rs 72, a 14.28% premium over the offer price. The stock hit a high of Rs 94.50 and low of Rs 72.

The counter clocked high volume of 3.53 crore shares on BSE.



Timbor Home's IPO was subscribed 5.78 times. The company had priced the IPO at the top end of the Rs 54-63 a share price band.

Timbor Home is a furniture manufacturing and retailing firm. It also operates on a franchise model. The company markets its products under the brand names Timbor Cucine- Modular Kitchens, Timbor Doors- Doors & Door Frames, Timbor Home- Home Furniture, and IKI Kitchens- Hi-end kitchen solutions using 'Hettich' Hardware and accessories.

The company plans to use the funds raised through the IPO for purchase of machinery, establishment of new stores, working capital requirement and for other corporate purpose.