Indo Thai Securities makes firm debut at Rs 75 on BSE

Shares of stockbroking firm Indo Thai Securities got listed at Rs 75 apiece on the BSE today, a premium of over 1.35% vis-a-vis their issue price of Rs 74.

Within minutes of listing the stock surged by as much as 20.27% to witness a high of Rs 89 on the BSE. It saw an early low of Rs 60.

On the National Stock Exchange, the scrip made its debut at Rs 76, a premium of 2.70% over the issue price. It later witnessed an early high of Rs 89 and a low of Rs 62.45.

By 1048 hours, as many as 77.91 lakh shares of the company had exchanged hands on the BSE and more than 1.05 crore shares got traded on the NSE.

Shares of the company were trading at Rs 88 on the BSE and at Rs 86 on the NSE at 1048 hours.

The Indore-based company, which raised nearly Rs 30 crore through its IPO, plans to utilise the funds for financing its growth plans and as long-term working capital.

The company provides brokerage services and is looking at expansion of its branch network and opening offices in major cities like Mumbai, Ahmedabad, Vadodara, Pune, Nagpur, Raipur, Jodhpur, Jaipur, Udaipur, Noida and Lucknow.