The Hindu Business Line : Aries Agro, Precision Pipes list at premium

Mumbai, Jan. 11 Aries Agro Ltd, a micronutrient and other nutritional products manufacturing company for plants and animals, today listed on the BSE and NSE at 15.3 per cent and 23.07 per cent premium respectively, as against its offer price of Rs 130 per share.

The scrip closed at Rs 251.60 on the BSE and at Rs 249.80 on the NSE. It touched a high and low of Rs 261 and Rs 150, respectively, on the BSE. On the NSE too it touched an intra-day high of Rs 261, and a low of Rs 145.10.

The company entered capital market with an Initial Public Offering (IPO) of 45-lakh equity shares of Rs 10 each for cash at a premium to be decided through the 100 per cent book building process. The price band of the issue was Rs 120 to Rs 130.

As a part of its expansion plan, AAL mainly proposed to set up new manufacturing units at Ahmedabad, Lucknow, Medak (Andhra Pradesh) and an additional unit in Maharashtra.

Precision Pipes and Profiles, a company which manufactures automotive sealing systems, also made its debut in the capital markets today at a premium of 10 per cent on the NSE and 6.67 per cent on the BSE against its issue price of Rs 150. During intra-day trading it touched an high of Rs 175 and a low of Rs 132 on the NSE and on the BSE it made a high of Rs 175 and Rs 132.60 was the intra-day low it touched during the day. When trading closed for the day the share price stood at Rs 136.10 on the NSE and on the BSE it stood at Rs 138.65.

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