Burnpur Cement lists and rises 173%

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MUMBAI: Burnpur Cement Thursday listed at Rs 15 on the National Stock Exchange, a premium of Rs 3 or 25 per cent to the issue price of Rs 12.

At 10:17, the share was up Rs 20.80 or 173.33 per cent at Rs 33.80. It touched a high of Rs 36. The low was Rs 15. Volume traded was 1,00,82,436 shares.

On BSE, the stock opened at Rs 25.50. It touched a high of Rs 25.50 and low of Rs 17.80. Over 26 lakh shares have changed hands so far.

Burnpur Cement had offered 219 lakh shares at Rs 12 per share in the initial public offering, which was subscribed 15.19 times.

Burnpur plans a 800 tonne per day capacity clinkerisation and cement grinding unit at Patratu in Jharkhand, expandable to 1,600 tpd. It will manufacture clinker, ordinary portland cement, portland pozzolona cement and portland slag cement.

Source : economictimes.indiatimes.com

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