Stocks

Mitsu Chem Plast migrates to BSE mainboard

Our Bureau Mumbai May 27 | Updated on May 27, 2020

Mitsu Chem Plast Ltd. has migrated to the BSE mainboard from BSE SME, after completion of about 3.5 years of listing on SME platform and meeting all criteria for the shift.

In 2016, Mitsu Chem Plast issued shares at ₹95 a share through an IPO and recently issued 2:1 bonus for shareholders.

The script made a strong debut on BSE mainboard to surge 16.4 per cent on Wednesday. Post migration, it opened at ₹85 against previous price of ₹73. The company has delivered Return on Investment (including the bonus) of 130 per cent since its listing.

Jagdish Dedhia, Chairman, Mitsu Chem Plast said the migration to BSE mainboard is a major milestone and that too amid the Covid-19 concern.

Ashishkumar Chauhan, MD & CEO of BSE, said while the Covid pandemic has brought in unprecedented challenges it has also enabled businesses to broaden horizons and leverage myriad of digital possibilities.

Apolymer based moulded products maker, Mitsu Chem Plast caters to industrial packaging solutions, automotive components, healthcare products, Infrastructure related products and emergency handling solutions with an in-house testing and quality control systems and machines.

Published on May 27, 2020

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