Barak Valley Lists At Rs 69 On NSE

BVCLMumbai: Barak Valley Cements Ltd has got listed today on the National Stock Exchange (NSE) at Rs 69.

The share price gained 64 percent as compared to its issue price of Rs 42 per share.

In early dealings (9:56 am), the company’s shares were trading at Rs 64 on the NSE. It also touched a high of Rs 72 on the BSE.

The scrip has also touched an intraday high of Rs 67 and a low of Rs 55.60.

The company has lifted Rs 237.7 million via its initial public offering of 5.66 million shares.

The income earned from the IPO would be utilized to swell clinkerisation and cement grinding capacities and make an investment for establishing a biomass-based power project in the north-eastern state of Assam.

Barak Valley Cements is a maker of cements under the trade name “Valley Strong Cement” in the north-eastern region of India. The company produces a variety of Grades of OPC (Ordinary Portland Cement) and PPC (Portland Pozzolana Cement) using Dry Process Rotary Kiln Technology with 4 stage Suspension Pre Heater.

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