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Hot Pursuit News

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(21 May 2024, 13:34)

NSE SME Mandeep Auto Industries skids on debut

Shares of Mandeep Auto Industries were quoting at Rs 64.15 on the NSE, a discount of 4.25% compared with the issue price of Rs 67.

The scrip was listed at Rs 62.25, a discount of 7.09% compared with the initial public offer (IPO) price. The stock is currently trading up 3.05% over its listing price.

The counter hit a high of Rs 65.20 and a low of Rs 59.15. About 11.68 lakh shares of the company changed hands at the counter.

Mandeep Auto Industries' IPO was subscribed 72.27 times. The issue opened for bidding on 13 May 2024 and it closed on 15 May 2024. The price of the IPO was fixed at Rs 67 per share.

The IPO comprised fresh issue of 37,68,000 equity shares. The promoter and promoter group shareholding diluted to 63.53% from 99.97% pre-IPO.

The company intends to utilize the net proceeds for expansion of the existing manufacturing facility located Haryana by construction of the building on the land ...

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