The scrip was listed at Rs 185.90, a premium of 141.43% compared with the initial public offer (IPO) price. The stock is currently frozen at its upper limit of 5% over its listing price.
The counter hit a high of Rs 195.15 and a low of Rs 176.60. About 34.60 lakh shares of the company changed hands at the counter.
Thaai Casting's IPO was subscribed 247.99 times. The issue opened for bidding on 15 February 2024 and it closed on 20 February 2024. The price band of the IPO was fixed at Rs 73 to 77 per share.
The IPO comprised fresh issue of 61,29,600 shares. The company intends to utilise the net proceeds for capital expenditure and general corporate purposes.
Ahead of the IPO, Thaai Casting on 14 February 2024, raised Rs 13.35 crore from anchor investors. The board allotted 17.34 lakh shares at Rs 77 per share to 2 anchor investor.
Thai Casting is an automotive ancillary company specializing in high-pressure die casting, as well as the precision machining of both ferrous and non-ferrous materials and induction heating and quenching. As of 30 September 2023, the company has 132 employees in various departments.
The company recorded revenue from operations of Rs 28.88 crore and net profit of Rs 5.57 crore for the period as on 31 October 2023.