Nitin Fire Protection listed on BSE

Mumbai, June 5 (UNI) Nitin Fire Protection Industries (NFPIL) today debuted on the Bombay Stock Exchange (BSE) at Rs 332.50, a premium of 75 per cent as against its issue price of Rs 190.

The NFPIL scrip touched a high of Rs 483 within minutes of listing and over 18.78 lakh shares exchanged hands on the bourse, market sources said.

The scrip finally closed at Rs 457.10 on the BSE.

Nitin Fire entered the bourses with over 1.26 crore equity shares and proposes to utilise the proceeds of the issue to fund its expansion plans at Visakhapatnam special economic zone (SEZ).

The company is setting up a second cylinder plant in the SEZ as most of the construction material is being imported.

UNI