PG Electroplast makes weak debut on BSE

Shares of PG Electroplast, an electronics manufacturing services provider, made a weak debut on the Bombay Stock Exchange (BSE) on Monday, listing at Rs 200 a share vis-a-vis the issue price of Rs 210 a share. The company’s shares got listed at Rs 200, down 4.76 per cent in comparison to their issue price on the BSE.

In contrast, the stock opened on a positive note on the National Stock Exchange, listing at Rs 215. However, within minutes, it pared the initial gains to slip below its issue price and was trading at Rs 208.85, down 0.55 per cent vis-a-vis the issue price, at 10.15 am. On the BSE, the scrip slid further and was trading at Rs 196.25. The company raised Rs 120.65 crore through the issue to fund expansion, retire debt and meet working capital requirements.