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S Chand makes debut: Shares list at 5% premium to Rs.707

S Chand

Mumbai: Shares of S Chand and Company listed at Rs 707 on BSE on Tuesday, up 5.52 per cent, against the issue price of Rs 670. The issue was opened for subscription from April 26 to April 28 and the public offer received an overwhelming response from investors as it was oversubscribed by 59.49 times.

On the NSE, shares of the company got listed at Rs 700, up 4.48 per cent, against the issue price.

The company had fixed a price band of Rs 660-670 per equity share of face value of Rs 10 each.

The public issue of the company consists of fresh issue of Rs 325 crore and offer for sale of equity shares of Rs 403 crore by the promoter group and selling shareholders (includes Everstone Capital Parteners II LLC). The object of the issue is mainly to repay the debt and for general corporate purposes.

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