Wednesday, August 12, 2009

Raj Oil Mills Debuts With Premium - Close Near to IPO Price

MUMBAI: Raj Oil Mills made its debut on the Indian bourses Wednesday. The stock opened at Rs 129.15, at a premium of 7 per cent or Rs 9.15 to its issue price on the NSE.

Meanwhile, on the BSE, the stock opened at a premium of Rs 5.05 at Rs 125.05. It later scaled to a high of Rs 131 in trade so far.

The initial public offer of edible oil firm Raj Oil Mills was fully subscribed on the final day of the offer. The IPO received bids for over 98.16 lakh equity shares against the offer size of 95 lakh shares, according to the data available with the National Stock Exchange.

The price band for the issue was fixed between Rs 100 and Rs 120 per equity share of face value of Rs 10.

The IPO, which opened on July 20, got a positive response from non-institutional investors, including corporate and individuals (other than retail institutional investors), as they fully subscribed (1.48 times) to the shares reserved for them, as per the data.