Resurgere Mines and Minerals India on Monday got listed at Rs 272.05 on the Bombay Stock Exchange, with a marginal premium over its issue price of Rs 270.
Within minutes of listing, scrip of the company touched an intra-day high of Rs 299 and over 15 lakh shares exchanged hands on the benchmark bourse.
A similar trend was seen on the National Stock Exchange, where the scrip opened at Rs 285, with a premium of 5.55 per cent from its issue price.
It touched an intra-day high of Rs 299.70 and more than 15.48 lakh shares were traded.
The company, later at 1013 hrs, was trading at Rs 288.30 on the BSE and at Rs 288.90 on the NSE.
Resurgere Mines got listed with 2.85 crore shares.
It plans to utilize the issue proceeds for purchasing plant, machinery and railway rakes to set up its own logistics infrastructure facilities and for funding working capital requirements.