Kenrik Industries Ltd. makes a strong debut on the bourses with scrip got listed at Rs 25.01 on the Bombay Stock Exchange, a 0.04 per cent premium to its issue price of Rs 25.00.
The company, which raised 0.35 Cr from initial public offering, was subscribed 1.85 times, receiving bids for 64.71 lakhs shares against the total issue size of 34.98 lakhs shares.
The company, listed under MT Group Securities post its IPO, opened for subscription from Apr 29 to May 06.
Following a strong opening, the scrip touched an intraday high of Rs 26.26 and a low of Rs 25.01, before closing the session up by 5.04 per cent to its listing price at Rs 26.26 on the BSE.
The company anticipates using the proceeds of the issue for .
Turnaround Corporate Advisors Pvt. Ltd. as lead managers & Skyline Financial Services Pvt. Ltd. is the registrar, to the issue.
Meanwhile, the broader benchmark BSE Sensex closed trade at 79,454.47, down 880.34 points, or 1.09 per cent.