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Shares of Servalakshmi Paper debuted with a premium of over 3 per cent on the BSE today vis-a-vis its issue price of Rs 29 per share.
The scrip opened at Rs 30 apiece, up 3.44 per cent from the issue price. Within minutes, it zoomed up by 21 per cent to touch an early high of Rs 35.10.
Similarly on the National Stock Exchange, the scrip opened at Rs 29 apiece, but soon jumped to Rs 35.20. On the volume front, over six crore shares of the company were traded in the first few minutes of trade.
Servalakshmi Paper, which is in the business of manufacturing, printing and writing paper, had entered the capital market with a price band of Rs 27-Rs 29 per share through a Rs 60-crore public issue.
The company will use the issue proceeds for capacity expansion and to meet its working capital requirements, among other things.
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