Spirits manufacturer Empee Distilleries got listed at Rs 462.30, a premium of 15.57 per cent, over its issue price of Rs 400 a share on the National Stock Exchange.
The scrip opened at Rs 462.30 and over 4.04 lakh shares changed hands at the bourse. The scrip was later trading at Rs 388.90.
Empee Distilleries had come out with a public issue of 48 lakh shares in the price band of Rs 350-400 per equity share of Rs 10.
The IPO of the company received good response from investors.
Empee Distilleries would utilise the proceeds of the issue for setting up a 10 MW biomass power plant as part of its expansion plan.
The company manufactures Indian Made Foreign Liquor (IMFL) under its own brand portfolio as well as under tie-up arrangements with other companies.