Auto components maker GNA Axles Limited (GNAAL), which entered the primary market with an issue of 63 lakh shares, including reservation of up to two lakh shares for employees, will debut on the stock markets on September 26. The company fixed the issue price as Rs 207 per share, the upper end of the Rs 205-207 price band.
The issue got a good response, with oversubscription of 54.88 times, according to data available with the National Stock Exchange.
The company allotted shares on Thursday.
"Trading Members of the Exchange are hereby informed that effective from Monday, September 26, 2016; the equity shares of G N A Axles Limited shall be listed and admitted to dealings on the Exchange in the list of 'T' Group of Securities," the Bombay Stock Exchange said in a statement on Friday.
The company raised Rs 38 crore from anchor investors by allocating shares at Rs 207 per share.
GNA Axles, which was established in 1993, is a Punjab-based manufacturer of rear axle shafts, other shafts and spindles used in on-highway and off-highway vehicles.
The company commenced domestic supplies in 1995 and exports in 2003, and generated about 54 per cent of its revenues from exports in the financial year 2015-16.
Meanwhile, L&T Technology Services, whose shares were listed on the BSE on Friday, closed at Rs 860.05 after hitting a high of Rs 931 during the day. The issue price was Rs 860.
The next scrip to be listed on the bourses is ICICI Prudential Life Insurance Company, whose initial public offering (IPO) was oversubscribed 10.48 times. The price band was Rs 300-334 per share and the issue size was in the range of Rs 5,440 crore to Rs 6,057 crore.
The BSE Sensex closed 105 points down at 28,668 on Friday.
