Shares of coaching services provider MT Educare remained stuck at upper circuit through out the session on listing day. The stock opened at Rs 86.05, which was the equilibrium price decided in the pre-opening session.
After opening, it immediately hit the upper circuit of Rs 90.35, rising 12.94% over issue price of Rs 80 a share. Total traded volume on both exchanges was more than 23.51 lakh shares.
The company raised Rs 99 crore through public issue, which comprised of fresh issue of Rs 35 crore and an offer for sale of 80 lakh equity shares by Helix Investments Company. The issue, which oversubscribed nearly five times, was opened for subscription during March 27-29.
Anchor investors like Nomura Trust & Banking Company and Birla Sun Life Trustee Company Private Limited had also subscribed for Rs 12.86 crore worth of shares.
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