Prataap Snacks makes robust mkt debut, stock jumps over 35%
Shares of Prataap Snacks made a
promising debut at the bourses today, surging over 35 per cent
from the issue price of Rs 938.
The stock listed at Rs 1,250, up 33.26 per cent from the
issue price on the BSE. Later, the stock zoomed 40.41 per cent
to Rs 1,317.05.
At the NSE, it debuted at Rs 1,270, reflecting a sharp
jump of 35.39 per cent.
In terms of equity volume, 11.10 lakh shares of the
company were traded on the BSE and over 59 lakh shares changed
hands at the NSE during the morning trade.
The market valuation of the company stood at Rs 2,774.96
The company's Rs 482-crore initial public offer (IPO) was
oversubscribed 47.39 times during September 22-26.
The issue was in a price band of Rs 930-938 per share.
The company, which makes products under the 'Yellow
Diamond' brand, aims to use the proceeds to expand capacity,
marketing and brand building activities and retire the debt on
Edelweiss, JM Financial and Spark Capital managed the
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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