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Chennai Feb. 9 The stock of floriculture company Pochiraju Industries debuted on the bourses on a strong note.

The stock listed at Rs 45.10 against the issue price of Rs 30 and ended the day with a gain of 65.5 per cent at Rs 49.65 on the NSE. The stock hit a high of Rs 65.5 intra day and recorded volumes of 4.96 crore shares.

On the Bombay Stock Exchange, the stock opened at Rs 45, immediately jumped to the day's high of Rs 64 and closed at Rs 49.15, a gain of 63.8 per cent over the issue price of Rs 30.

Traded volumes on the BSE stood at 3.30 crore shares.

Through its initial public offering, the company raised Rs 37.57 crore (including promoter contribution of Rs 3 crore) by offering 1.79 crore equity shares to help set up a bio-fermentation and protein purification unit and a bio-injectible plant.

The stock also witnessed several bulk deals and among them the significant were UBS Securities and Credit Suisse Singapore with the former selling 1.17 lakh shares at Rs 55 and the latter 1.63 lakh shares at Rs 57.04.

More Stories on : IPOs | Floriculture

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