Nandan Exim debuts, draws premium

DALAL STREET SPIKES

Chiripal Group-promoted Nandan Exim has a dream debut on the bourses. The stock of denim and cotton fabric production company listed at a 140 per cent premium on Monday.

The stock listed at Rs 48, as against the issue price of Rs 20 and kept its upward momentum. The stock in intra-day trades hit a high of Rs 64.90, before closing at Rs 50.20 with volumes accounting for more than 94.1 lakh shares on BSE.

Nandan Exim had came out with a public issue of 60 lakh equity shares of Rs 10 each for cash at a premium of Rs 10 per share to raise Rs 12 crore.

Market analyst said, textile sector stocks are widely chased by most domestic funds who have recently launched mid cap funds. A strong listing of Nandan Exim exhibits that the interest in mid-cap stocks is still there."