Mumbai: Pharmaceuticals formulations company Alpa Laboratories got listed at a discount of 11.76% on 6 August, at Rs60 on the Bombay Stock Exchange (BSE) over its issue price of Rs68.
Alpa Laboratories made its debut in a weak market as the BSE benchmark index slipped 432.82 points and the wide-based Nifty was down by 120.85 points in early morning trade.
Within minutes of listing the scrip touched a high of Rs65, but later fell to hit a low of Rs54.05. Over 12.48 lakh shares exchanged hands on the BSE.
The scrip was trading at Rs59 at 10.02am on the exchange.
On NSE, the shares of the company got listed at Rs61 before touching a low of Rs55 with 14.44 lakh shares being traded.
The company entered the bourses with over 2.10 crore equity shares at an issue price of Rs68 a share.
The proceeds of the issue would be utilised for setting up a new plant at Pigdamber in Indore to increase production and testing capacities, besides meet margin money working capital requirements and general corporate purposes.
Alpa Laboratories manufactures and markets a wide range of products for human and veterinary use under its own brand to both national and international pharmaceutical companies.