Essen Speciality Films, whose IPO was subscribed by a massive 71 times, was listed at nearly 31% premium on the exchange. The stock then went on to rally 5% further to Rs 147.
The IPO comprised fresh equity issue of up to 46.99 lakh equity shares of face value of Rs 10 each and an offer for sale (OFS) of up to 15 lakh equity shares by selling shareholders.
The proceeds from the public offering will be utilised for repayment of debt, working capital requirements, and other general corporate purposes.
Meanwhile, Magson Retail and Distribution shares were listed at 40% on the NSE Emerge. Upon listing, the stock was locked in 4.7% upper circuit at Rs 95.70.
The IPO, which was offered at a price of Rs 65, was subscribed 6.74 times. While the retail portion was subscribed 7.38 times, other investors made bids for 6.9 times more than the reserved category.
The IPO was a fresh issue of 21.14 lakh shares.The company is into the retail business of selling frozen food, gourmet food products and imported food products. It operates the retail stores through its own stores, jointly owned stores and franchise model under its brand name ‘MagSon.’
Greenchef Appliances shares fetched the least premium at 19.54% out of three companies that listed today. The stock later rallied to 5% upper circuit at Rs 109.20.
The company is engaged in the business of manufacturing and marketing of a wide range of kitchen appliances under the brand name of Greenchef. Its kitchen appliances include gas stoves, pressure cookers, mixer grinders among others.
