Mumbai: FMCG major Colgate Palmolive (India) got relisted at Rs380 on the BSE following a reduction of its share capital.
Within minutes of relisting the scrip of the company touched a high of Rs455 and over 1.08 lakh shares changed hands on the BSE. Similar trend was witnessed on the National Stock Exchange, where the shares of the company got relisted at Rs435, touched a high of Rs440 and as many as 1.12 lakh shares got traded.
The shares of the company, however, parted with some initial gains and was trading at Rs403.50 on BSE and at Rs404 on NSE at 10.22 am. Colgate Palmolive got listed with over 13.59 crore shares consequent to the reduction of its share capital.
The paid-up capital of the company got reduced to Rs13.59 crore from Rs135.99 crore. The scheme of reduction of share capital was approved by the Bombay High Court on 27 September.