1334 Investors following Bedmutha Ind. Share this News with them.
0
Like this story, share it with millions of investors on M3
Bedmutha Industries debuts with 11.3% premium
Shares of Bedmutha Industries, a steel wire manufacturer in western India started the first session on exchanges at Rs 113.5 as against issue price of Rs 102 a share on NSE.
Shares of Bedmutha Industries , a steel wire manufacturer in western India started the first session on exchanges at Rs 113.5 as against issue price of Rs 102 a share on NSE.
At 9:20 hours IST, a share was trading at Rs 104.80, with volume of 71 lakh shares, after hitting a high of Rs 120 and low of Rs 102 in early trade.
Bedmutha raised Rs 91.8 crore through the issue, which will utilise to set up a 36,000 tonnes per annum (tpa) manufacturing facility for low relaxation pre-stress concrete (LRPC) wire and spring steel wire with installed capacity of 18,000 tpa on 12 acres at Nashik in Maharashtra. LRPC wires, which are in much demand, are used in pre-stressed concrete girders for roads, railway sleepers, flyovers.
The issue, which had opened for subscription during September 28-October 1, was subscribed 7.69 times. A price band was at Rs 95-102 a share.
