Vadilal's shares start trading on NSE

Vadilal Industries Ltd's shares started trading on the National Stock Exchange (NSE) with effect from 15 June, 2011. Vadilal Industries was first listed on the Bombay Stock Exchange (BSE) way back in 1990.

This will lead to greater visibility for the company as well as increase in liquidity and trading volumes', the company said in a statement. On the first day of trading, the company’s share price on NSE opened at Rs 169.70 per share and touched an intra-day high of Rs 183.70. The total traded quantity stood at 5.19 lakh shares on the first day of listing on NSE. "The listing of our flagship company’s shares on the NSE is a major milestone for us and it will significantly benefit all our existing shareholders as well potential new investors. NSE is the largest stock exchange in India in terms of trading volumes and has a very wide reach across India. Vadilal Industries aims to become an Indian MNC ice creams and frozen foods, and to provide products and services at an affordable price without compromising on quality," said Rajesh Gandhi, managing director, Vadilal Industries.

As of March 31, 2011, promoters’ stake in the company was 61.94 per cent, Foreign Institutional Investors (FIIs) holding stood at 6.97 per cent, bodies corporate holding was 9.33 per cent and rest was with the public.