Vishal Fabrics SME IPO lists at Rs 45.20 on day 1; up 2%

Vishal Fabrics listed on Wednesday at Rs 45.20 on the BSE SME platform. At 11:49 hours IST, the equity share of the compay was quoting at Rs 46.00, up Rs 1.00, or 2.22 percent on the BSE.

The issue was opened for subscription on July 31 and closed on August 05, 2014 for which price band was fixed at Rs 45 per equity share.

Vishal Fabrics is engaged in the business of dyeing, printing and processing of fabrics of its own and also on job work basis. The company procures mainly grey fabric and dyes, prints and finishes the same as per the client’s requirements.

The main objects of the issue was to raise funds for funding long term working capital requirements and funding expenditure for general corporate purposes.