Flexituff International has debuted at Rs 156.90, a marginal 1% premium against its issue price of Rs 155 per share on the National Stock Exchange (NSE). The stock hit a high of Rs 157 and low of Rs 153 so far. A combined 350,000 equity shares have changed hands on the counter in opening deals.
A leading integrated manufacturer of flexible intermediate bulk containers (FIBC) raised Rs 105 crore through initial public offers (IPO). The issue had included offer for sale of up to 2.25 million equity shares by Clearwater Capital Partners (Cyprus) Limited.
The company would utilise part of the fresh issue proceeds of Rs 69.75 crore towards expansion of its manufacturing facilities at SEZ and DTA units at Pithampur and for setting up of Dripper project at Kashipur.