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Excellent Wires & Packaging Ltd. makes a weak debut on the bourses with scrip got listed at Rs 85.00 on the Bombay Stock Exchange, a 5.55 per cent discount to its issue price of Rs 90.00. On the National Stock Exchange, the stock was listed at Rs 85.00.
The company, which raised 0.14 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 14.00 lakhs shares.
The company, listed under ST Group Securities post its IPO, opened for subscription from Sep 11 to Sep 13.
Following a weak opening, the scrip touched an intraday high of Rs 89.25 and a low of Rs 80.75, before closing the session up by 8.83 per cent to its listing price at Rs 82.05 on the NSE.
The company anticipates using the proceeds of the issue for .
Inventure Merchant Banker Services Pvt. Ltd. as lead managers & Bigshare Services Pvt. Ltd. is the registrar, to the issue.
Meanwhile, the broader benchmark NSE Nifty closed trade at 25,790.95, up 375.15 points, or 1.47 per cent.
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