Alkali Metals lists at 13 pc discount

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Mumbai, Nov 6 (UNI) Alkali Metals was today listed at Rs 90 on the Bombay Stock Exchange (BSE), with a discount of 12.62 per cent, over its issue price.

The scrip opened at Rs 90 and later gained by 55 per cent to touch a high of Rs 159.90 in early trade on the exchange. The company listed 1.01 crore shares on the bourses with an issue price of Rs 103, a leading broker said.

Similar movements were witnessed on the National Stock Exchange, (NSE), where the scrip opened at Rs 99, a discount of 3.88 per cent over its issue price. It later rallied to touch a high of Rs 152.

Over 30.13 lakh shares changed hands on the bourses.

The company manufactures a range of fine chemicals, based on related chemistry. It plans to utilise the issue proceeds to fund its expansion plans.

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