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Category :
IPO
Headline :
Infinium Pharmachem Ltd. debuts with 4.81% premium at Rs 141.50
Date:
17/04/2023 12:00
Infinium Pharmachem Ltd. makes a strong debut on the bourses with scrip got listed at Rs 141.50 on the Bombay Stock Exchange, a 4.81 per cent premium to its issue price of Rs 135.00. On the National Stock Exchange, the stock was listed at Rs 141.50.
The company, which raised 0.19 Cr from initial public offering, was subscribed 1.83 times, receiving bids for 34.31 lakhs shares against the total issue size of 18.75 lakhs shares.
The company, listed under ST Group Securities post its IPO, opened for subscription from Mar 31 to Apr 05.
Following a strong opening, the scrip touched an intraday high of Rs [BSEHighPrice] and a low of Rs [NSEHighPrice], before closing the session [UpDown] by [ChangePer] per cent to its listing price at Rs [ClosingPriceBSE] on the NSE.
The company anticipates using the proceeds of the issue for Marketing and Branding Expenses (including Registration in Reach Europe, other marketing expenses); Repayment of some of Existing Loans Expansion of Existing Unit To Meet Incremental Working Capital Requirements General Corporate Purpose To meet Public Issue Expenses.
SWASTIKA INVESTMART LIMITED as lead managers & Bigshare Services Private Limited. is the registrar, to the issue.
Meanwhile, the broader benchmark NSE Nifty closed trade at 17,828.00, up 15.60 points, or 0.08 per cent.
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