Esteem Bio Organic Food Processing initial public offering (IPO) listed today on the BSE, under SME platform. It has opened at Rs 25.25 on the BSE against its issue price of Rs 25.
It has touched an intraday high of Rs 26.50 and an intraday low of Rs 25.25. It was trading with volumes of 270,000 shares. There were pending buy orders of 624,000 shares, with no sellers available.
The company raised Rs 11.25 crore through public issue of 45 lakh equity shares at Rs 25 per share.
Esteem Bio Organic intended to use issue proceeds for setting up of shade net cultivation facility; development of farm land for organic farming; procurement of farm tools and equipments; and brand building.
The issue was opened for subscription during January 18-22, 2013. Guiness Merchant Bankers Private Limited is the book running lead manager to the issue.
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