The scrip was listed at Rs 239.40, up 90% over the initial public offer (IPO) price. The stock was currently frozen in an upper limit of 5% over its listing price.
The counter hit a high of Rs 251.35 and a low of Rs 239.40. About 7.23 lakh shares of the company changed hands at the counter.
Amic Forging's IPO was subscribed 192.29 times. The issue opened for bidding on 29 November 2023 and it closed on 1 December 2023. The price band of the IPO was fixed between Rs 121 to 126 per share. The equity shares will be listed on the SME platform of BSE.
The IPO comprised fresh issue of 27,62,000 shares. The promoter and promoter shareholding diluted to 42.20% from 57.29% pre-IPO.
The company intends to utilize the net proceeds to meet working capital requirements, setting up of ...
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