Bajaj Corp lists up 18% on debut

Bajaj Corp lists up 18% on debut
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First Published: Wed, Aug 18 2010. 10 04 AM IST
Updated: Wed, Aug 18 2010. 10 04 AM IST
Mumbai: Shares of hair oil producer Bajaj Corp listed at Rs780 on the BSE on Wednesday, 18.18% higher from its issue price of Rs660.
The firm raised Rs3 billion via the initial public offering of 4.5 million shares, with the issue being covered 19.2 times.
Bajaj Corp, which is a unit of the Bajaj Group, which owns India’s top sugar maker Bajaj Hindusthan plans to use the proceeds for product expansion and acquisitions.
At 9:02 am, shares of the firm were up 20.15% at Rs793 on the BSE.
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First Published: Wed, Aug 18 2010. 10 04 AM IST
More Topics: Bajaj | Bajaj Hindusthan | Hair oil | Sugar | Markets |