Raj Oil Mills finally settled at Rs 118 on the BSE today. The debutant touched an intra-day high of Rs 133, up 6.5% from its opening. The counter clocked a volume of over 17.3 million shares on the first day.
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(Updated 1306 hrs)
Raj Oil Mills made its debut on the BSE today at Rs 125, at a premium of 7% or Rs 9.15 to its issue price of Rs 120 per share. The stock is now trading at Rs 119
The stock soon touched a high of Rs 133 after opening at the exchange. As the trading progressed, the scrip fell to a low of Rs 115. The counter witnessed trades of over 12 million shares so far.
The initial public offer(IPO), which opened on July 20, was fully subscribed on the final day of the offer. The IPO received bids for over 98.16 lakh equity shares against the offer size of 95 lakh shares. It also got a positive response from non-institutional investors, as it was subscribed nearly 1.5 times by them.
The company reported a net profit of Rs 29.62 crore on sales of Rs 317.76 crore in the year ended December 2008.
