Mumbai: Resurgere Mines and Minerals India got listed at Rs272.05 on the Bombay Stock Exchange, with a marginal premium over its issue price of Rs270.
Within minutes of listing, scrip touched an intra-day high of Rs299 and over 15 lakh shares exchanged hands on the benchmark bourse.
A similar trend was seen on the National Stock Exchange, where the scrip opened at Rs285, with a premium of 5.55% from its issue price.
It touched an intra-day high of Rs299.70 and more than 15.48 lakh shares were traded.
The stock was later quoted at Rs288.30 on the BSE and at Rs288.90 on the NSE. Resurgere Mines got listed with 2.85 crore shares.
It plans to utilise the issue proceeds for purchasing plant, machinery and railway rakes to set up its own logistics infrastructure facilities and for funding working capital requirements.