Financial Daily from THE HINDU group of publications
Wednesday, Dec 14, 2005
Financial Daily from THE HINDU group of publications Wednesday, Dec 14, 2005 |
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Markets
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Stocks Logistics - Shipping ABG Shipyard debuts at 47% premium Our Bureau
Mumbai , Dec. 13 ABG Shipyard Ltd made its debut on the Bombay Stock Exchange on Tuesday with a 47.24 per cent premium on the issue price. The stock opened at Rs 280, touched a high of Rs 298 and closed at Rs 272.40, with 71.7-lakh shared traded on the first day. The issue price was Rs 185. The company will be utilising the IPO proceeds to fund its Rs 450-crore project involving setting up of its second shipyard at Dahej. The new yard, which is likely to be completed in two years, will be capable of building bigger vessels of 1.2-lakh DWT Aframax and Panamax tankers. "The layout will also enable us to build a very large crude carriers,'' a company official said.
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