Edible oil firm Raj Oil Mills on Wednesday got listed with a premium of 4.20 per cent to its issue price on the Bombay Stock Exchange (BSE).
Shares of the company got listed at Rs 125.05. During early morning trade, the scrip surged to Rs 132.25 and touched a low of Rs 121 on the BSE. It was later quoting at Rs 132.05. The company hit the floor with 3.60 crore equity shares at an issue price of Rs 120 a piece.
Similar movement was seen on the National Stock Exchange, (NSE) where the stock opened at Rs 120. It jumped to Rs 130 after sometime, before dipping to a low of Rs 119. The scrip was trading at Rs 121.80.
Raj Oil sells brands like Cocoraj and Guinea Groundnut Oil, and Guinea Light Sunflower Oil. Its present crushing capacity is 5,000 tonnes per day, while filtering capacity, including refining, is 30,000 tonnes a day.
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