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Hot Pursuit News

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(20 Mar 2023, 10:34)

NSE SME MCON Rasayan India makes strong debut

Shares of MCON Rasayan India were trading at Rs 50.40 at 10:19 IST on the BSE, a premium of 26% compared with the issue price of Rs 40.

The scrip was listed at Rs 48, a premium of 20% compared with the issue price.

So far, the scrip hit a high of Rs 50.40 and a low of Rs 48. At the counter, 6.84 lakh shares of the company had changed hands till now.

The initial public offer (IPO) of MCON Rasayan India was subscribed 364.39 times. The issue opened for bidding on 6 March 2023 and it closed on 10 March 2023. The IPO price was fixed at Rs 40 per share.

The IPO comprised fresh issue of 17,10,000 equity shares, shares, aggregating up to Rs 6.84 crore. About 90,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 16,20,000 equity shares. The issue and the net issue will constitute 27.13% and 25.70%, respectively of the post issue paid-up equity share capital of...

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