Sunday, October 30, 2005

Shree Renuka Sugars closes below its issue price of Rs 285


Shree Renuka Sugars closed below its issue price. The stock closed at Rs 261.85, with volumes of 32,20,953 shares on the BSE. It touched an intraday high of Rs 325 and an intraday low of Rs 258. On the NSE, the stock closed at Rs 260.30, with volumes of 49,81,651 shares. It touched an intraday high of Rs 315 and an intraday low of Rs 257. The company listed today on the stock exchanges. It opened at Rs 310 on the BSE and at Rs 315 on the NSE. The stock was issued at Rs 285.
It entered the capital market on October 7 to raise Rs 100 crore (Rs 1 billion). There was also a greenshoe option aggregating Rs 10 crore (Rs 100 million). The issue was being made through a 100% book building process and the price band was Rs 250-300 per equity share. JM Morgan Stanley was the book running lead manager and Edelweiss Capital was co-book running lead manager for the IPO.

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