BCB Finance closes at lower circuit on Day 1
Mar 13 2012, 20:01 | By Moneycontrol.com
BCB Finance was the maiden listing on BSE SME exchange.
Image: SME Mentor
Shares of Mumbai based non-banking finance company BCB Finance closed at its lower circuit limit of Rs 25.70 on listing day on the BSE. It is a small & medium enterprise that raised Rs 8.85 crore via public issue and is the first company listed on BSE' SME Exchange.
In a pre-opening session, an equilibrium price for the stock discovered at Rs 27 a share as against issue price of Rs 25.
The issue size was below Rs 250 crore, so the circuit limit for the stock is 5%. Accordingly, the BSE fixed circuits limits of Rs 25.70 and Rs 28.35 on lower and higher sides, respectively.
Total traded volume stood at 2.76 lakh equity shares while public issue size was 35.4 lakh shares.
BCB Finance operates as a non deposit taking non-systemically important non-banking finance company (NBFC-NDNSI) engaged primarily in the business of advancing loans and investing/trading in securities.
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