Mumbai, May 23 (PTI) Hilton Metal Forging today got listed at Rs75 on the Bombay Stock Exchange (BSE), a premium of 7.14% over its issue price of Rs70.
Within minutes of listing, the scrip touched a high of Rs80 and over 27 lakh shares were traded on the BSE. Hilton Metal was trading at Rs73.95 at 10:12 am on BSE.
On the National Stock Exchange (NSE), the scrip of the company got listed at Rs73.10, with a premium of 4.42% over its issue price.
The shares later gained further strength and touched a high of Rs77.80 and over 21.69 lakh shares exchanged hands on the bourse. The scrip was trading at Rs74 at 10:12 am on NSE.
The company entered the bourses with around 1.25 crore equity shares at an issue price of Rs70 each.
The proceeds of the issue would be used for expansion of its existing capacity by setting up new facility and to meet the working capital requirements.
The company is a leading manufacturer and exporter of forged components for oil, petrochemical, pharmaceutical and automobile industries.