MT Educare trades 13% higher on debut at BSE

MT Educare, which raised Rs 99-crore via public issue, made its debut on BSE on Thursday, April 12, 2012. The issue price of the scrip was fixed at higher end of price band of Rs 74-80 a share. In the pre-opening session, the equilibrium price of MT Educare's shares was decided at Rs 86.05, higher by 7.56% to issue price of Rs 80 a share.

MT Educare is currently trading at its upper circuit limit of Rs 90.35, up by 10.35 points or 12.94%, from its fixed issue price of Rs 80.00 on the BSE.

The scrip opened at Rs 86.05 and has touched a high and low of Rs 90.35 and Rs 86.05 respectively. So far 1738 shares were traded on the counter.

The promoters holding in the company stood at 42.88% while FIIs and DIIs held 7.43% and 8.22% respectively. Others held 41.47% stake in the company.

MT Educare, an education support and coaching services provider, entered the Indian capital market on Tuesday, March 27 with its initial public offer (IPO) comprising of fresh issue of equity share of face value of Rs 10 (at a premium) aggregating to Rs 35 crore and an offer for sale of 80 lakh equity shares by Helix Investments Company. The issue, which was made through a 100% book building process was to be listed on the BSE and the NSE. The book running lead managers to the issue were Enam Securities, while the registrar to the issue was Link Intime India.