Gravita india | gravita india ipo, gravita india listing date, gravita, gravita india allotmentNumber of View: 38
Gravita india | gravita india ipo, gravita india listing date, gravita, gravita india allotment
A manufacturer of lead metal Gravita India has seen spectacular listing on exchanges today. A share listed at Rs 201.10, a premium of 60.88% over an issue price of Rs 125 a share on National Stock Exchange.
The stock has touched a high of Rs 247.70 (jumped 98.16%) in early trade. At 9:38 hours IST, it was trading at Rs 233.70, up 89.96%, with volume of 52,65,423 equity shares.
The company raised Rs 45 crore through this issue of 36 lakh equity shares, which was subscribed 42.88 times.
Gravita intends to utilise the proceeds of the issue for setting up an additional manufacturing facilities at Jaipur and new facility at Wada, Maharashtra. It will also use the proceeds for investment in overseas ventures at Sri Lanka – Navam Lanka Limited, Senegal – Pagrik Senegal SA and Honduras – Gravita Honduras SA.
Part of proceeds will also be used for setting up manufacturing facilities at Australia, Belarus, Chile and Mexico.
The company is engaged in the business of manufacturing of lead metal by recycling and smelting process.