News Details

( As on 12/01/2022 10:30)

Timescan Logistics (India) Ltd. debuts with 60.78% premium at Rs 82.00

Timescan Logistics (India) Ltd. makes a strong debut on the bourses with scrip got listed at Rs 82.00 on the Bombay Stock Exchange, a 60.78 per cent premium to its issue price of Rs 51.00. On the National Stock Exchange, the stock was listed at Rs 82.00.

The company, which raised 0.09 Cr from initial public offering, was subscribed 103.30 times, receiving bids for 975.15 lakhs shares against the total issue size of 9.44 lakhs shares.

The company, listed under ST Group Securities post its IPO, opened for subscription from Dec 31 to Jan 04.

Following a strong opening, the scrip touched an intraday high of Rs [BSEHighPrice] and a low of Rs [NSEHighPrice], before closing the session [UpDown] by [ChangePer] per cent to its listing price at Rs [ClosingPriceBSE] on the NSE.

The company anticipates using the proceeds of the issue for A To meet the working capital requirementsB To meet the Issue ExpensesC General Corporate PurposesThe Company believes that listing will enhance the Company’s corporate image, brand name and create a public market forits Equity Shares in India It will also make future financing easier and affordable in case of expansion or diversification of the business Further, listing attracts interest of institutional investors as well as foreign institutional investors.

Finshore Management Services Ltd. as lead managers & CAMEO CORPORATE SERVICES LTD is the registrar, to the issue.

Meanwhile, the broader benchmark NSE Nifty closed trade at 18,055.75, up 52.45 points, or 0.29 per cent.