Mumbai: Wheat and pulses processor Sita Shree Food Products on Monday listed at Rs30 on the Bombay Stock Exchange.
The scrip opened at Rs30, which was also its issue price, and touched an intra-day high of Rs43.40 within the first few minutes of trade on the BSE.
On the National Stock Exchange, the scrip opened at Rs35 at a premium of Rs5 over its issue price, and touched an intra-day high of Rs43.40 in the early morning trade.
The company listed 2,20,36,800 shares of the bourses.
The scrip later parted with some gains and was trading at Rs41 on the BSE and Rs40.65 on the NSE at 1005 hrs. Over 1.06 crore shares changed hands on both the bourses.
Sita Shree had raised about Rs31 crore through the initial public offer. The company, which supplies its products to major retail industry players such as Pantaloon retail and Reliance retail, proposes to utilise the issue proceeds to part finance its Rs48.12 crore expansion plan.
Sita Shree’s product portfolio comprises wheat flour, maida, rawa, daliya, suji and chana dal amongst others and these are marketed under its own brand like Sita Shree regular and Sita Shree gold.