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    Pennar Engineered Building Systems shares close 4.55% lower

    The stock opened tad below issue price at Rs 177.95 (day's high) and touched an intraday low of Rs 169.10.
    September 10, 2015 / 17:18 IST

    Moneycontrol Bureau

    Shares of Pennar Engineered Building Systems closed at Rs 169.90 on the National Stock Exchange, down 4.55 percent compared to issue price of Rs 178 on Thursday.

    The stock opened tad below issue price at Rs 177.95 (day's high) and touched an intraday low of Rs 169.10.

    Pennar Engineered Building Systems, a subsidiary of Pennar Industries (manufacturer of engineering products), is a custom designed building systems solutions provider. Its capabilities include designing, manufacturing, supply and assembly of custom designed building systems.

    The Rs 156-crore issue proceeds will be used for repayment in full or part of certain working capital facilities; financing the procurement of infrastructure (including software and hardware) for the expansion of design and engineering services; and general corporate purposes.

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