Raj Oil Mills made its debut on the BSE at Rs 125, at a premium of 7% or Rs 9.15 to its issue price. Presently, the stock is trading at Rs 119.
After its opening, the stock soon hit a high of Rs 133. But as the trading moved on, it fell to a low of Rs 115. Trading of around 12 million shares has been noted so far.
As per the data available with the National Stock Exchange (NSE), over 98.16 lakh bids were received by the IPO for the equity shares against the actual size of 95 lakh shares.
It also received a positive response from non-institutional investors as they subscribed to the shares reserved for them
Net profit of Rs 29.62 crore was shown by the company on the sales of Rs 317.76 crore in the year ended December 2008.