Mumbai: Yash Birla group firm Birla Cotsyn listed at a premium of 5% over its issue price of Rs14 on the Bombay Stock Exchange on 30 July.
The scrip opened at Rs14.70, touched a high of Rs17.50 in the early morning trade. The company listed over 11.66 crore shares on the bourses.
Similar movements were witnessed on the National Stock Exchange where the scrip opened at Rs14.90, which was also its intra-day high.
It was later trading at Rs12.90 on the BSE and Rs12.95 on the NSE at 1006 hrs. Over 8.97 lakh shares changed hands on the bourses in the first few minutes of trade.
The textile manufacturing firm had raised about Rs 125 crore through its initial public offer of 8.96 crore shares earlier this month.
The company would utilise the issue proceeds to set up an integrated textile unit and a garment manufacturing plant at its existing facilities in Maharashtra and also fund the firm’s foray into retail outlets it plans to set up across the country.