Ameenji Rubber Ltd. debuts on BSE SME Exchange

Ameenji Rubber Ltd., a A leading manufacturer of industrial rubber engineering products such as bridges bearings, expansion joints and various kinds of rubber pads, made its debut on the BSE SME Exchange today. The company's shares were listed following a successful SME Initial Public Offering (IPO) that received strong investor interest, with over 2.12x times subscription.

The symbolic bell-ringing ceremony was held at the Bombay Stock Exchange (BSE) office in Hyderabad, marking the commencement of trading of Ameenji Rubber Ltd.'s equity shares. This was the first-ever bell ringing ceremony held at the Hyderabad office of BSE. Mr. Mufaddal Deesawala (Ameenji), Chairman & Managing Director of Ameenji Rubber Ltd., led the ceremony in the presence of company executives, investors and members of the exchange.

The company had floated its SME IPO with a price band of INR 95 - 100 per share, successfully raising INR 30 crore through the sale of 30,00,000 equity shares at the upper end of the price band.

Speaking on the occasion, Mr. Mufaddal Deesawala (Ameenji), Chairman & Managing Director said, " Our listing on the BSE SME platform marks a significant milestone in Ameenji Rubber's growth journey. The overwhelming investor response to our IPO reinforces confidence in our vision and business fundamentals. We remain committed to driving innovation, quality and sustainability in our products while delivering consistent value to our shareholders."

Ameenji Rubber Ltd is a Hyderabad based manufacturer of industrial rubber products for railways, infrastructure and construction sectors. Over the years, it has established itself as a trusted supplier to major government and private infrastructure projects across India, especially to the Indian Railways.

Shares of Ameenji Rubber Limited was last trading in BSE at Rs. 106.05 as compared to the previous close of Rs. 0.00. The total number of shares traded during the day was 1176000 in over 387 trades.

The stock hit an intraday high of Rs. 106.05 and intraday low of 96.05. The net turnover during the day was Rs. 119484108.00.

Source : Equity Bulls

Keywords

AmeenjiRubber INE14QA01016 Listing BSESME