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Aqua Logistics surges 12% on trading debut

Aqua Logistics surges 12% on trading debut
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First Published: Tue, Feb 23 2010. 10 54 PM IST
Updated: Tue, Feb 23 2010. 10 54 PM IST
Mumbai:Aqua Logistics Ltd surged as much as 12% in its trading debut in Mumbai.
The shares gained 11.2% to Rs244.6 on the Bombay Stock Exchange.
The company sold shares at Rs220 apiece earlier this month to raise Rs150 crore.
The Mumbai-based company plans to use the proceeds to open four offices in India and one in Dubai. Aqua Logistics also plans to spend Rs30 crore in the next two months to acquire a Hong Kong-based company, vice-chairman M.S. Sayad said today.
Aqua Logistics extended the offer period for its initial share sale from 28 January to 2 February, and lowered the price band for the shares to as low as Rs200 from Rs220.
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First Published: Tue, Feb 23 2010. 10 54 PM IST