Abha Power and Steel shares were listed on the NSE Emerge platform with a premium of about 9 percent on December 4.
The shares of Abha Power and Steel Limited were listed at Rs 81.90 per share on the NSE SME, a premium of 9.20 percent against the issue price of Rs 75.
Ahead of the listing, the shares of Abha Power and Steel Limited were commanding a GMP of Rs 15 in the unofficial market, indicating a premium of 20 percent.
Abha Power and Steel closed its Rs 38.54-crore IPO on November 29.
The IPO, which was opened between November 27-29, comprised of fresh issue of 41.39 lakh shares worth Rs 31.04 crore and an offer-for-sale of 10 lakh shares worth Rs 7.5 crore at a price of Rs 75 per share.
The Chhattisgarh-based iron and steel products manufacturer will utilise fresh issue funds for modernisation and upgradation of the manufacturing facilities in Bilaspur to expand its product portfolio, working capital requirements, and general corporate purposes.
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