Sandhar Techno ends 2% lower from issue price

The stock listed at Rs 346, up 4% against its issue price of Rs 332 per share on the National Stock Exchange.

Sandhar Technologies has made a decent debut by listing at Rs 346, 4% higher against its issue price of Rs 332 per share on the National Stock Exchange (NSE).  The stock opened at Rs 345 on the BSE.

Sandhar Technologies ended at Rs 322 on the BSE. It hit high of Rs 351 and a low of Rs 318 on the BSE so far. A combined 1.43 million shares changed hands on the counter on the BSE and NSE.

The Rs 5,125 million initial public offer (IPO) of auto component maker Sandhar Technologies was subscribed 6.19 times. The IPO received bids for 67 million shares against the total issue size of 10.87 million shares, data available with the stock exchanges show. Qualified institutional buyers (QIBs) category was subscribed 14.5 times, non institutional investors 6.39 times and retail investors 1.41 times.

The company plans to use a portion of the net proceeds towards repayment of certain loan facilities and for other general corporate purposes.