Bronze Infra-Tech rises 7% on debut

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SummaryBronze Infra-Tech saw its stock opening 11.33% above its IPO price.

Infrastructure firm Bronze Infra-Tech today surged by seven per cent over its initial public offering (IPO) price on its debut trade on the BSE's SME platform.

The company has become the 11th firms to get listed on the BSE's Small and Medium Enterprises (SME) exchange.

Bronze Infra-Tech attracted robust investor demand for its shares and saw its stock opening at Rs 16.70 per share – 11.33 per cent above its IPO price of Rs 15.

During the trade, it had touched a high of Rs 17.10 before settling at Rs 16.05 apiece, up seven per cent over its issue price.

Total traded quantity on the counter was two lakh shares.

The Kolkata-based company had raised Rs 8.56 crore with a public issue of 57.04 lakh shares. The issue of the proceeds would be used for the expansion purpose.

The BSE SME platform was launched in March this year and since then it has been receiving very positive response.

Besides two companies Finshore Management Services and Eco Friendly Food Processing Park have already submitted their respective draft prospectus with the exchange and are awaiting for approvals.

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