Mitsu Chem Plast Ltd (BSE: 540078) today migrated from BSE SME to the BSE Main Board after completing around 3.5 years in SME & meeting all the other criteria.
Mitsu Chem Plast Itd announced their maiden IPO in 2016 with the Price of Rs. 95 per share and are now migrating on the Mainboard on May 27; 2020. They have recently issued 2:1 Bonus for their shareholders.
The script made a strong debut on BSE Mainboard surged 16.4% percent; post migration Stock opened at Rs. 85.00/- against the Closing price of Rs 73.00 a share on May 27, 2020. The return on Investment of Mitsu Chem share is around 130.5% since its listing in September 2016 post IPO, this is another success story of BSE SME.
Mr. Jagdish Dedhia, Chairman, Mitsu Chem Plast Ltd said, "Migration for a company from BSE SME to BSE Mainboard is a milestone and we thank all our investors and stake holders to support us in making our BSE SME journey successful."
On the occasion Chief Guest of the Virtual Ceremony Mr. Ashishkumar Chauhan, MD & CEO of BSE said, "I would like to congratulate Mitsu for its first and successful virtual migration to the main board of BSE platform. While the COVID-19 pandemic has brought in unprecedented challenges it has also enabled us to broaden our horizons and leverage myriad of digital possibilities. BSE has been at the forefront in terms of digital transformation and we continue to strengthen our digital capabilities, a step towards realizing Honourable Prime Minister Narendra Modi's dream of Digital India."
Shares of Mitsu Chem Plast Ltd was last trading in BSE at Rs.87 as compared to the previous close of Rs. 73. The total number of shares traded during the day was 5848 in over 64 trades.
The stock hit an intraday high of Rs. 87.6 and intraday low of 80.1. The net turnover during the day was Rs. 506134.