Vaswani Industries debuted at Rs 33.45, lower by 15.55 points or 31.73% from its issue price of Rs 49.
The scrip is currently trading at Rs 22.25, down by 26.75 points or 54.59% from its issue price and has touched a high and low of Rs 35.40 and Rs 13.00 respectively. So far 320221 shares were traded on the counter.
Vaswani Industries(VIL) listing has been delayed for five months as the initial public offer (IPO) came under the regulatory scanner for large number of withdrawals and rejections in the non-institutional portion. On the day the issue closed, stock exchange website showed the institutional portion was subscribed 0.16 times, while that reserved for high networth investors (HNIs) and retail investors was subscribed 11.29 and 6.82 times, respectively. Sebi investigations showed the issue, which was earlier subscribed a total of 4.16 times, was subscribed only 1.28 times after the withdrawals.
Presently, VIL is manufacturing Coal-based Sponge Iron using 3 indigenously developed rotary kilns, with a capacity of 90000 M.T. (3 X 100 MT) along with a Waste Heat Recovery Boiler (WHRB) with a generation capacity of 11.5 MW Power & a Steel Ingot/Billet Plant of capacity 59400 MT. (2 X 9 MT).
| Company Name | CMP |
|---|---|
| Jindal Steel | 1269.50 |
| Lloyds Metals&Energy | 1622.70 |
| Jai Balaji Inds | 72.59 |
| Steel Exchange India | 8.96 |
| Rajputana Stainless | 125.90 |
| View more.. | |
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