GNA Axles debuted at Rs 248.50 on the BSE, up by 41.50 points or 20.05% from its issue price of Rs 207.
The scrip is currently trading at Rs 250.60, up by 43.60 points or 21.06 % from its issue price. It has touched a high and low of Rs 260.00 and Rs 242.20 respectively. So far, 4,20,000 shares were traded on the counter.
The offering, which was open for subscription between September 14 and September 16, was subscribed 54.88 times. The issue price was fixed at Rs 207 per share i.e. at upper end of price band of Rs 205-207 apiece.
The company is Punjab based manufacturers of rear axle shafts, other shafts and spindles used in on-highway and off-highway vehicular segments in India. The company mainly engaged in manufactures and sells auto components for the four-wheeler industry. GNA Axles made over 2.26 million components in 2016.
