Wednesday, July 30, 2008

Birla Cotsyn close at a discount over 34% on BSE and over 32% on NSE

Birla Cotsyn ended at Rs 9.45 on the NSE, at a huge discount of 32.50% to its issue price of Rs 14.

On the NSE, the share touched an intraday high of Rs 14.90 and intraday low of Rs 8.75. The total traded quantity was 4,32,75,411 shares and turnover was Rs 4812.23 lakh.

On the BSE, the share closed at Rs 9.20 at a discount of 34.29%. On BSE its intraday high was at Rs 17.50 and intraday low was at Rs 8.55. The total traded quantity was 5,20,87,208 shares.

The share had listed at Rs 14.90 on the NSE against the issue price of Rs 14 at a premium of 6.43% whereas on the BSE the share had opened at Rs 14.70 at a premium of 5% to its issue price 14.

The company had entered capital market with an initial public offering of 8,96,08,333 equity shares and subscribed by 1.11 times.

The proceeds from the issue will be utilized to set up a integrated textile unit and a garment manufacturing plant at their facilities located at Khamgaon, Ghatanji & Makkapur in Maharashtra.