HGS (India) Ltd. makes a strong debut on the bourses with scrip got listed at Rs 160.00 on the Bombay Stock Exchange, a 33.33 per cent premium to its issue price of Rs 120.00. On the National Stock Exchange, the stock was listed at Rs 160.00.
The company, which raised 0.29 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 28.80 lakhs shares.
The company, listed under ST Group Securities post its IPO, opened for subscription from Oct 30 to Nov 03.
Following a strong opening, the scrip touched an intraday high of Rs [BSEHighPrice] and a low of Rs [NSEHighPrice], before closing the session [UpDown] by [ChangePer] per cent to its listing price at Rs [ClosingPriceBSE] on the NSE.
The company anticipates using the proceeds of the issue for Funding the capital expenditure towards replacement of plant and machinery for the existing manufacturing facility at Manesar, Gurugram Funding the capital expenditure towards Backward Integration for setting up inhouse gold plating facility Funding the capital expenditure towards Infrastructural development of building on d Floor at the existing manufacturing facility at Manesar, Gurugram Pursuing unidentified acquisitions and general corporate purpose.
Hem Securities Limited as lead managers & KFin Technologies Ltd. is the registrar, to the issue.
Meanwhile, the broader benchmark NSE Nifty closed trade at 24,536.60, up 576.00 points, or 2.40 per cent.