Monday, June 04, 2007

MIC Electronics, McDowell, IIL debut on BSE on 31st May - hindu.com

Source : hindu.com

Three companies -- MIC Electronics, McDowell Holdings and Insecticides (India) -- yesterday got listed on the Bombay Stock Exchange (BSE) and evoked mixed response from investors in early morning trade.

MIC Electronics, manufacturer of LED video display systems got listed at Rs 210.25, a premium of 40.16 per cent over its issue price of Rs 150 on the BSE.

Within minutes of listing, the shares touched a high of Rs 349.90 and over 18.23 lakh shares were traded on the exchange.

The scrip was trading at Rs 329.70 at 10.03 am on BSE.

The company entered the bourses with over 2.01 crore fully paid-up equity shares of Rs 10 each.

The Hyderabad-based company was subscribed by over 50 times as the IPO received overwhelming response from foreign institutional investors and domestic mutual funds.

While, McDowell Holdings got listed at Rs 195.60 following a restructuring scheme, Insecticides (India) Ltd (IIL), debuted at Rs 105, a discount of 8.69 per cent over its issue price of Rs 115.

McDowell Holdings Ltd (formerly known as McDowell India Sprits Ltd) entered the bourses with over 1.21 crore fully paid-up equity shares of Rs 10 each issued pursuant to the scheme of arrangement.

Source : hindu.com

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