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Textile firm Shekhawati Poly-Yarn on Wednesday made a stellar debut on the bourses, with opening at a premium of over 66 per cent against its issue price of Rs 30 on the National Stock Exchange (NSE).
Shares of the company listed at Rs 50 a piece, reflecting a jump of 66.66 per cent from its issue price on the NSE.
However, on the Bombay Stock Exchange, the new comer witnessed a modest debut as it opened 8.33 per cent higher at Rs 32.50. But within the minutes of trade, the scrip gained momentum and surged by 62.66 per cent to an early-high of Rs 48.80.
Shekhawati Poly-Yarn has raised Rs 36 crore through its initial public offer. The company proposes to use the proceeds for buying new machines, buying corporate office and working capital requirements.
Shekhawati is currently engaged in manufacturing of texturised and twisted yarn.
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