JRG lists at 5% premium

MUMBAI: In spite of a weak market on Thursday, shares of JRG Securities had a strong debut on the bourses, listing at Rs 41.85 on the Bombay Stock Exchange.

The Kochi-based stock brokerage house had offered 3.62 million shares at Rs 40 each (face value of Rs 10 plus a premium of Rs 30 per share). The shares registered a gain of 4.6% for investors. On the BSE alone, 4.26 million shares were traded, indicating a lot of churning by the investors.

JRG Securities is one the first brokerage houses to tap the capital market. Brokerage firms like Motilal Oswal are in the line to raise public money for expansion.