Stocks

Taksheel Solutions wipes off listing gains

PTI Mumbai | Updated on March 12, 2018

Shares of IT firm Taksheel Solutions got listed at Rs 157.40 apiece on the BSE today vis-a-vis their issue price of Rs 150 per share.

The scrip opened 4.93 per cent higher at Rs 157.40 on the BSE compared to its issue price. Similarly, on the NSE, the scrip debuted at Rs 157, up 4.66 per cent.

However, within minutes, the stock saw most of the initial gains pared and plummeted 17.5 per cent to Rs 123.75 on the BSE. The stock lost ground rapidly on the NSE as well, shedding 19.33 per cent to Rs 121.

Taksheel Solutions raised Rs 80 crore through the initial share sale to raise funds for expansion purposes.

Another company, Flexituff International, a manufacturer of flexible intermediate bulk containers, made its debut on the bourses today as well.

The stock opened at Rs 156.90 on the NSE, up 1.22 per cent vis-a-vis its issue price of Rs 155. It got listed at Rs 155 on the BSE. However, within minutes, the scrip witnessed erosion and was trading lower at Rs 153.75 on the BSE and at Rs 153.90 on the NSE.

Flexituff International raised Rs 100 crore through its IPO and the funds will be used for expansion purposes.

Published on October 19, 2011

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