New listings suffer on debut trade

MUMBAI: The three companies that made their debut on the Bombay Stock Exchange, including outsourcing major Hinduja TMTs demerged entity HTMT Global Solutions, suffered badly on their first trading day, as all the firms settled in negative territory.

Outsourcing major, Hinduja TMTs demerged entity HTMT Global Solutions Limited (HGSL) dipped 26.20 per cent from its opening price and ended the day at Rs 583.

The company formerly known as HTMT Technologies Limited opened firm at Rs 790, which was also its intra-day high but parted some gains and closed at Rs 583. Over 29.18 lakh shares exchanged hands on the BSE.

The company entered the bourses with over 2.05 crore equity shares of Rs 10, pursuant to the scheme of arrangement and reconstruction.

As per the scheme of arrangement, the Information Technology and Information Technology Enabled Services (IT/ITES) undertaking of Hinduja TMT Limited (HTMT) were transferred to HGSL.

Accordingly, HGSL allotted the shareholders of HTMT one fully paid up equity share of Rs 10 each for every two equity shares of the same value held.

The newly formed company has 19 delivery centres across the US, Canada, Mauritius, Philippines, India and has over 9,500 employees servicing more than 60 clients across the globe.

Meanwhile, Decolight Ceramics declined 21.92 per cent over its issue price and settled at Rs 44.50 on the BSE.

Shares of the company witnessed an intra-day high of Rs 65.90, low of Rs 43.50 and over 1.58 crore shares were traded on BSE.

Decolight, a vitrified ceramic tiles manufacturer, entered the bourses with over 1.83 crore equity shares.

The proceeds of the issue would be used to raise capital to finance its expansion, which includes raising capacity of vitrified tiles from 6,000 square metres to 12,000 square metres per day. It has also proposed to set up two wind generators having a capacity of 1.25 MW and 2.1 MW each.

Netflier Finco Limited formerly known as Netflier Technologies Ltd dipped 27.06 per cent on its debut trade on the BSE from its opening price and ended the day at Rs 55.65.

The scrip touched an intra-day high of Rs 76.30, low of Rs 52.65 and over 22.71 lakh shares exchanged hands on the BSE.

The company entered the bourses with over 1.03 crore equity shares of Rs 10 each fully paid-up issued to the shareholders of JK Tyre & Industries.

As per the scheme of arrangement the Investment undertaking of JKTIL got demerged in NFL and accordingly NFL allotted 1,02,64,836 equity shares of Rs 10 each to the shareholders of JKTIL on January 29, in the ratio of one share of Rs 10 each for four equity shares of the same value held in JKTIL.