Jindal Cotex, a flagship company of Jindal group of Ludhiana, today got listed at Rs 75 on the Bombay Stock Exchange.

However after listing, the stock gathered some momentum and made an intra-day high of Rs 93, a rise of 25 per cent compared to its issue price. But finally the counter ended the day with gain of 16 per cent at Rs 87.

Jindal Cotex is engaged in manufacturing acrylic and polyester yarns, including polyester viscose, polyester cotton, and combed and carded yarns. The company plans to utilize the raised amount for setting up a new facility for manufacturing cotton yarn and for dyeing yarn.

Apart from this, the company would also invest funds in its two units--Jindal Medicot and Jindal specialty Textiles.