Hilton Metal Forging on Thursday got listed at Rs 75 on the Bombay Stock Exchange (BSE), a premium of 7.14 per cent over its issue price of Rs 70.Within minutes of listing, the scrip touched a high of Rs 80 and over 27 lakh shares were traded on the BSE. Hilton Metal was trading at Rs 73.95 at 10.12 am on BSE.
On the National Stock Exchange (NSE), the scrip of the company got listed at Rs 73.10, with a premium of 4.42 per cent over its issue price.The shares later gained further strength and touched a high of Rs 77.80 and over 21.69 lakh shares exchanged hands on the bourse. The scrip was trading at Rs 74 at 10.12 am on NSE.
The company entered the bourses with around 1.25 crore equity shares at an issue price of Rs 70 each.The proceeds of the issue would be used for expansion of its existing capacity by setting up new facility and to meet the working capital requirements.The company is a leading manufacturer and exporter of forged components for oil, petrochemical, pharmaceutical and automobile industries.
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