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Indo Thai Securities lists at Rs 76 on NSE
Indo Thai Securities, a stock broking firm, touched a high of Rs 83.70 in the early trade after opening at Rs 76 as against issue price of Rs 74 on listing day.
Indo Thai Securities , a stock broking firm, touched a high of Rs 83.70 in the early trade after opening at Rs 76 as against issue price of Rs 74 on listing day. However, it could not manage to hold that early gains for long, falling 2.5% to Rs 72.2 on the National Stock Exchange at 9:42 hours IST.
The company's Rs 29.6 crore IPO was opened for subscription during September 30-October 5.
Issue proceeds will be used for expansion and upgradation of existing branches and setting up branch network (with an outlay of Rs 2 crore), purchasing of office space for Mumbai regional office (with cost of Rs 4 crore), purchasing and setting up of office space for corporate office (with Rs 4 crore), brand building and advertising (Rs 3 crore) and augmenting long term working capital requirement (Rs 10 crore).
