New Delhi: Binani cement, which got listed at Rs 75 on the Bombay Stock Exchange (BSE) on Monday, touched a high of Rs 79 within minutes of listing.
Over 13.59 lakh shares were traded on the BSE. The scrip got listed at Rs 73 on the National Stock Exchange (NSE).
The company entered the bourses with Rs 20.31 crore shares. It operates out of two manufacturing facilities in Rajasthan and has an installed production capacity of 5.5 million tonnes of cement per annum.
Binani would undertake further expansion, which includes setting up of green field facilities, to increase presence across the country.
JP Morgan had picked up 25 per cent stake in Binani Cement for Rs 130 crore in September 2005 and as per the investor agreement; the firm would sell off 10 per cent of its stake in the company through the IPO route.
Another company Arrow Webtex Ltd (AWL) got listed at Rs 192.40 on the BSE.
The company, which was formerly known as Creole Holdings Company Ltd, entered the bourses with one crore equity shares of Rs 10 each pursuant to the scheme of arrangement between erstwhile Creole Holdings and AWL.
As part of the scheme, the paid-up equity share capital, consisting of Rs 2.44 crore-equity shares of Rs 10 each, was converted into redeemable preference share capital of AWL.
Pursuant to the arrangement, AWL allotted Rs 1.05 crore equity shares of Rs 10 each to the shareholders of Creole in the ratio of 3.5:1.
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