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Behari Lal Engineering debuts with 76% premium
In Short
On the NSE, the stock listed at Rs 465, a premium of 63.15 per cent. It ended at Rs 502.20, rallying 76.21 per cent.
Share :
Behari Lal Engineering debuts with 76% premium
New Delhi: Shares of integrated iron and steel manufacturing company Behari Lal Engineering Ltd ended with a massive premium of over 76 per cent against the issue price of Rs 285. The stock made its market debut at Rs 458, registering a jump of 60.70 per cent from the issue price on the BSE. During the day, it zoomed 88.54 per cent to Rs 537.35. Shares of the firm ended at Rs 502.55, up 76.33 per cent.
On the NSE, the stock listed at Rs 465, a premium of 63.15 per cent. It ended at Rs 502.20, rallying 76.21 per cent. The company’s market valuation stood at Rs 2,125.91 crore. The initial public offer of Behari Lal Engineering Ltd was subscribed 108.44 times on the final day of bidding on Friday.
The Rs 302-crore IPO had a price band of Rs 271-285 per equity share. The public issue had a fresh issuance of shares aggregating up to Rs 93 crore and an Offer for Sale (OFS) of up to 73.20 lakh equity shares.
The company plans to use the proceeds from the fresh issue for purchase and installation of equipment and machinery, including computers and peripherals, and related civil work at its manufacturing facilities.
