Manpasand Beverages settles with small premium to offer price on debut

Manpasand Beverages settled at Rs 326.85 on BSE, at a premium of 2.14% to the issue price of Rs 320 on its debut on the bourses today, 9 July 2015.

Meanwhile, the S&P BSE Sensex fell 114.06 points or 0.41% to settle at 27,573.66.

On BSE, 15.79 lakh shares were traded in the counter.

The mid-cap stock made a debut at Rs 291, a discount of 9.06% to the issue price of Rs 320. The stock hit a high of Rs 341.90 and a low of Rs 286.

Manpasand Beverages had priced the initial public offer (IPO) at the top end of the Rs 290 to Rs 320 price band. The initial public offer (IPO) of Manpasand Beverages closed on 26 June 2015. It was subscribed 1.4 times and received bids for a total of 1.05 crore shares.

Manpasand Beverages, promoted by Dhirendra Singh, is a fruit drink manufacturer focusing on mango. Mango-based fruit drink, Mango Sip, is the flagship brand of the company, which is strategically aimed at customers in semi urban and rural markets. In addition, the company also sells fruit drink in apple flavor under the brand Apple Sip.

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