Gallantt Ispat Ltd IPO : Settled at 62.1% premium on debut

by khalid on 17/10/2010 · 0 comments

Gallantt Ispat Limited’s shares got debuted at Rs 52.15, a mere 4.21% premium over its initial public offering (IPO) price of Rs 50. At the end of the day, shares price was Rs 81.05 which is a premium of 62.1% over the issue price of Rs 50. The stock hit a high of Rs. 87.40 and low of Rs. 48.80 on the day 1. Gallantt Ispat Ltd is engaged in manufacturing sponge iron, M S billets, re-rolled products (TMT bars) and wheat flour products.

Listing day Summary :-
Listing Date: 11h Oct 2010
BSE Scrip Code : 533265
Listing In : ‘B’ Group of Securities
ISIN : INE528K01011
Issue Price : Rs. 50.00 Per Equity Share
Face Value : Rs. 10.00 Per Equity Share

On the NSE:-
Issue Price: Rs. 50.00
Open : 52.15
High : 87.40
Low : 48.80
Close : 81.05
Last Trade : 81.05

The proceeds of this IPO will be used to part finance the integrated steel plant, to part finance the Flour Mill with a capacity of 1,80,000 MTPA and listing of securities on Stock Exchanges.

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