Investors in the public issue of Manaksia Limited were able to gain more than 50% on the vary first day of listing of the equity on the BSE here today. As against the issue price of Rs 160 per equity share of Rs 2 each, the script intra-day jumped to Rs 248.70 with a combined volume of over 34 million equity shares on both the exchanges.

The Company had entered the capital markets on 17th December 2007 with a public issue of 15,500,000 Equity shares of Rs.2 each at a price band of Rs. 140 to Rs. 160 per equity share and the issue was subscribed 9 times. ICICI Securities Ltd was the Book Running Lead Manager for the Issue.

Manaksia Limited is a multi division and multi location Company focusing on manufacturing of value added metal products and metal packaging products. The Company intends to use the net proceeds of the Issue for expansion of metals business by purchase of capital equipment, prepayment of certain term debt and for general corporate purposes. The expansion of metals business includes addition of certain equipments for de-bottlenecking to aluminium rolling line at Haldia aimed at production of higher value added products as well as improving efficiency of its present production.

Sourced From: Concept Public Relations India Pvt. Ltd

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