HPC Biosciences closes 12% above issue price on Day 1

Shares of HPC Biosciences closed at day's high at Rs 39.10, up 11.71 percent over issue price of Rs 35 on Bombay Stock Exchange on day 1.

It traded with volumes of 5.2 lakh equity shares on Tuesday.

There were pending buy orders of 32,000 shares, with no sellers available. Market capitalisation of the company currently stands at Rs 62.40 crore.

The company is engaged in the agriculture operations of cultivation, processing and distribution of agriculture commodities like wheat, paddy, sugar cane, fruits, vegetables and flowers.

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Issue proceeds of Rs 15.75 crore are proposed to be used for development of green house cultivation; development of farm land for transition to organic farming; strengthening supply chain management; procurement of farm tools and equipments; and general corporate expenses.