Momai Apparels Make Debut At Rs 79.70 On NSE's SME platform | SupportBiz

News

Momai Apparels Make Debut At Rs 79.70 On NSE's SME platform

 
Shares of the company closed at Rs 79.70 apiece on its debut day.

Mumbai: Momai Apparels on Friday made a debut at the National Stock Exchange's SME platform at a share price of Rs 79.70 apiece.

The company is the sixth small & medium enterprise (SME) to list its shares on 'Emerge'.

NSE's EMERGE is a dedicated platform that enables small and medium enterprises to raise funds and get listed as public entities.

It had opened at Rs 78 in the morning session. During the trading session, the stock touched a high of Rs 82 and a low of Rs 78.

The company, which claims to have the world's largest product basket of loungewear, raised Rs 43 crore through an Initial Public Offer (IPO), out of which Rs 13 crore were garnered as pre-IPO placement.

It offered equity shares with face value of Rs 10 each at price band in range of Rs 78-90.

Momai Apparels had received overwhelming response from investors for its IPO during the subscription from September 25 to September 30.

Pantomath Capital Advisors (P) Ltd is the book running lead manager for the IPO.