Shekhawati Poly-yarn Limited IPO : Settled at 58.33% premium on debut

by khalid on 13/01/2011 · 0 comments

Shekhawati Poly-yarn Limited shares got debuted at Rs 32.50, a just 7.94% premium over its initial public offering (IPO) price of Rs 30.00 on the National Stock Exchange (NSE). At the end of the day, shares price was Rs 47.50 which is a gain of 58.33% over the issue price of Rs 30.00. The stock hit a high of Rs. 69.70, a premium of 130% over an issue price of Rs 30 and low of Rs. 30.70 on the listing day 12th Jan 2011. A total of 119,347,258 shares changed hands on the NSE. Shekhawati Poly-yarn Limited was originally incorporated on November 15 1990. The company is a leading manufacturer of Polyester Texturised Yarn & Twisted Yarn.

Listing day Summary :-
Listing Date: 12th January 2010
BSE Scrip Code : 533301
NSE Symbol : SPYL
Listing In : ‘B’ Group of Securities
ISIN : INE268L01012
Issue Price : Rs. 30.00 Per Equity Share
Face Value : Rs. 10.00 Per Equity Share

On the NSE:-
Issue Price: Rs. 30.00
Open : 32.50
High : 69.70
Low : 30.70
Close : 47.50
Last Trade : 47.50

Shekhawati Poly-yarn Limited has raised Rs 36.00 crore through an initial public offering of 12,000,000 equity shares.

As the company was seeking high premium despite company’s volatile operations and most of the analysts were of the view to ‘AVOID’ this IPO but speculators made a good gain on the listing day.

Stay tuned to BelltheBull Blog for more news on Shekhawati Poly-yarn Limited IPO !

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