Vrundavan Plantation lists at Re 1 discount, KK Shah Hospitals at 24% premium

Vrundavan stock started trading at Rs 107 against the IPO price of Rs 108

The Vrundavan Plantation stock listed at a discount of Re 1, while KK Shah Hospitals opened at a 24.44 percent premium over the IPO price on the BSE SME platform on November 6.

Shares of Vrundavan started trading at Rs 107 as against the IPO price of Rs 108. Soon after listing, the shares plunged 5.8 percent to Rs 101.65 over the issue price, while the KK Shah shares opened at Rs 56 against an issue price of Rs 45.

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Vrundavan Plantation

Vrundavan Plantation's Rs 15.29-crore IPO, which opened on October 30 and closed on November 1, was subscribed 18.57 times. The proceeds from the issue will be used for the repayment of working capital and unsecured loans and the rest will be utilised for general corporate purposes. Promoter Upendra Tiwari held 83.76 percent stake in the company before the public issue and the holding came down to 61.52 percent after the IPO.

The company is engaged in the nursery business, which comprises landscape development, horticulture/plantation/landscape maintenance and irrigation works.

KK Shah Hospitals 

KK Shah Hospitals raised Rs 8.78 crore through the public issue. The IPO opened for subscription on October 27 and closed on October 31. It received a decent response from investors 13.5 times subscription. Amit Shah and Kirti Kumar Shah are the promoters of the company. The promoter holding of 49.58 percent stake in the company has reduced to 35.38 percent after the issue. The IPO proceeds will be used to purchase medical equipment and general corporate purposes.

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KK Shah Hospital provides inpatient and outpatient healthcare services through its hospital in Ratlam, Madhya Pradesh. The hospital has over 26 beds and is equipped with diagnostic devices such as CT scans, DEXA scans, BMD, sonography, and X-ray machines.