Rajesh Power Services Ltd. makes a strong debut on the bourses with scrip got listed at Rs 636.50 on the Bombay Stock Exchange, a 90.00 per cent premium to its issue price of Rs 335.00.
The company, which raised 0.48 Cr from initial public offering, was subscribed 55.23 times, receiving bids for 2,645.52 lakhs shares against the total issue size of 47.90 lakhs shares.
The company, listed under MT Group Securities post its IPO, opened for subscription from Nov 25 to Nov 27.
Following a strong opening, the scrip touched an intraday high of Rs 668.30 and a low of Rs 636.50, before closing the session up by 99.49 per cent to its listing price at Rs 668.30 on the BSE.
The company anticipates using the proceeds of the issue for .
ISK ADVISORS PRIVATE LIMITED as lead managers & Bigshare Services Pvt. Ltd. is the registrar, to the issue.
Meanwhile, the broader benchmark BSE Sensex closed trade at 80,248.08, up 445.29 points, or 0.55 per cent.