While shares of Ratnaveer Precision listed at an impressive 31 per cent premium, Rishabh Instruments disappointed investors as its shares started trading at just a 4 per cent premium.
The IPO of Ratnaveer Precision Engineering, which ended on September 6, received a strong response from investors with the overall subscription at 93.95 times at close.
Shares of Ratnaveer Precision debuted at Rs 128 apiece, registering a jump of 30.61 per cent from the issue price on the BSE. Later, it zoomed 36.73 per cent to Rs 134.
The company will not receive any proceeds from the OFS portion. From the fresh issue, net proceeds will be used to fund the working capital requirements and residual funds will be utilised for general corporate purposes