Live Webinar on "How to Invest successfully to reach goals without losing sleep" Sign up for Live Webinar

M and B Switchgears debut at discount on the bourses

20 Oct 2011

M and B Switchgears has debuted at Rs 180 on the BSE, down by 8 points or 4.30% from its issue price of Rs 186.

The scrip is currently trading at Rs 175.50, down by 10.50 points or 5.65% from its issue price and has touched a high and low of Rs 180.00 and Rs 155.35 respectively. So far 385825 shares were traded on the counter.

Transformer manufacturer, M and B Switchgears has fixed issue price at Rs 186, the higher end of the price band of Rs 180-186. The issue was subscribed 1.41 times.

M and B Switchgears intends to utilize the issue proceeds to set up new grid connected 4 MWp solar photovoltaic power plant at Village Gagorni, Dist. Rajghar, Madhya Pradesh and to meet general corporate purpose.

The company is engaged in manufacturing of power transformers, distribution transformers, furnace transformers and special purpose transformers. The company proposes to use the net proceeds of the issue to part-finance its project of setting up a new grid connected 4 MWp solar photovoltaic power plant at Gagorni in Rajgarh district of Madhya Pradesh.

Related Ujaas Energy Ltd. Links:

Ujaas Energy Share Price

2.90 0.00 (0.00%) Sep 23, 16:59
1 Year Price Chart
Company Name CMP
Siemens 2165.00
Havells India 1435.00
Apar Inds 653.00
ABB India 1899.60
CG Power & Indl.Soln 106.35
View more..
Sensex vs Ujaas Energy
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323