Snowman witnesses stellar opening, lists at 70% premium
Source: IRIS | 12 Sep, 2014, 11.11AM
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Rating: NAN / 5 stars. |
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Snowman Logistics, an integrated temperature controlled logistics service provider, witnessed a stellar listing on the stock exchanges today. On the first day of trade, Snowman's shares jumped nearly 70% on the National Stock Exchange (NSE). Currently the shares are trading at Rs 79.80, up 69.79% from issue price of Rs 47. It recorded a high of 79.80 and a low of 76 at the NSE. The company had offered 42 million equity shares of Rs 10 each. The price band was between Rs 44 and Rs 47 a share. CRISIL had assigned 4/5 to public issue, indicating that the fundamentals of the issue are above average in relation to other listed equity securities in India.
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