Taksheel Solutions Makes Strong BSE Debut, Only to Lose Ground
Thursday, 20 October 2011, 00:06 IST
By PTI
By PTI
Mumbai: 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 company''s shares opened 4.93 per cent higher at Rs. 157.40 on the BSE compared to their issue price. Similarly, on the NSE, the scrip debuted at Rs. 157, up 4.66 per.cent in comparison to its issue price.
However, within minutes, the stock saw most of the initial gains pared and plummeted by 17.5 percent to Rs 123.75 on the BSE at 1050 hours. The company''s stock lost ground rapidly on the NSE as well, shedding 19.33 percent to Rs. 121 at 1050 hours.
Taksheel raised Rs. 80 crore through the initial share sale, which aimed 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 percent vis-a-vis its issue price of Rs. 155. The company''s scrip got listed at Rs. 155 on the BSE.
Within minutes, however, shares of the company witnessed erosion and were 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.
The company''s shares opened 4.93 per cent higher at Rs. 157.40 on the BSE compared to their issue price. Similarly, on the NSE, the scrip debuted at Rs. 157, up 4.66 per.cent in comparison to its issue price.
However, within minutes, the stock saw most of the initial gains pared and plummeted by 17.5 percent to Rs 123.75 on the BSE at 1050 hours. The company''s stock lost ground rapidly on the NSE as well, shedding 19.33 percent to Rs. 121 at 1050 hours.
Taksheel raised Rs. 80 crore through the initial share sale, which aimed 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 percent vis-a-vis its issue price of Rs. 155. The company''s scrip got listed at Rs. 155 on the BSE.
Within minutes, however, shares of the company witnessed erosion and were 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.
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