TRIL lists at Rs701 with 51% premium

TRIL lists at Rs701 with 51% premium

Mumbai: Transformers and Rectifiers (India) Ltd (TRIL) on Friday got listed at Rs701.10 with a premium of 50.77% on the Bombay Stock Exchange.

The scrip opened at Rs701.10, touched a high of Rs813.75 and 18,141 shares changed hands on the bourse within minutes of listing.

Similarly, on the National Stock Exchange the scrip opened at Rs790 and over 1.83 lakh shares got traded.

The scrip was later trading at Rs727 on the BSE and at Rs735 on the NSE at 10 a.m.

The company, which manufactures transformers, got listed with 1,29,23,611 equity shares at an issue price of Rs465 per share.

TRIL would utilise the proceeds of the issue to finance its greenfield manufacturing facility at Moraiya, near Ahmedabad, having a capacity to manufacture transformers of above 66 KV class.

It would also part-finance incremental working capital requirements.