Unused Delhi Stocks of Suraj Property Builders Ltd made a disappointing marketplace debut on Tuesday, registering a decline of just about 6 in keeping with cent from the problem worth of Rs 360.
On the BSE, the inventory made its debut at Rs 343.80, a cut price of four.5 in keeping with cent from the problem worth. Later, stocks of the corporate plunged 10 in keeping with cent to Rs 323.95.
The inventory indexed at Rs 340, a fall of five.88 in keeping with cent at the NSE.
The preliminary proportion sale of Suraj Property Builders fetched 15.65 occasions subscription at the last day of bidding on Wednesday.
The Preliminary Public Present (IPO) had a value vary of Rs 340-360 a proportion.
The Mumbai-based corporate's IPO used to be Utterly a modern issuance of fairness stocks price Rs 400 crore without a Present for Sale (OFS) element.
Proceeds can be used against fee of debt availed via the corporate and its subsidiaries — Agreement Estates and Iconic Assets Builders, and the purchase of land. But even so, a Fraction will likely be used for common company functions.
Suraj Property Builders has evolved actual property around the residential and business sectors within the South Central Mumbai area and has a residential portfolio situated within the markets of Mahim, Matunga, Dadar, Prabhadevi, and Parel.
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Printed on December 26, 2023