Dixon Tech makes strong debut; lists at 54% premium

Dixon Tech makes strong debut; lists at 54% premium

18/09/2017 12:53

Electronic manufacturing firm Dixon Technologies (India) kicked-off trading on the Bombay Stock Exchange on strong note by listing at Rs 2725.00, a 54 per cent premium against its initial public offer (IPO) price of Rs 1,766 per share.

The shares of the company, which had got overwhelming response for its initial public offering, listed at premium at Rs 2,725 on the National Stock Exchange.

Extending its early gains, shares of company gained as much as 69.81 per cent to trade at intra-day high of Rs 2998.90 on the BSE. In the day’s trade so far, stocks hits intra-day high and low of Rs 2998.90 and Rs 2725.00, respectively.

“The equity shares of Dixon Technologies (India) Ltd (Scrip Code: 540699) are listed and admitted to dealings on the Exchange in the list of ‘B’ Group Securities,” said the company in a filing to the Bombay Stock Exchange.

The IPO, which was opened for public subscription from September 6-8, had fixed a price band of Rs 1,760-1,766 per equity share.

The company intends to use fund proceeding for setting up LED TV capacity in Tirupati, expansion of backward integration of lighting business, debt repayment, IT infrastructure and the rest will be used for general corporate purposes.

Meanwhile, the broader benchmark BSE Sensex was trading at 32,484.01, up 211.40 points, or 0.66 per cent, at 13:00 hours.

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