India's Medicamen Organics surges 326% in debut trade

Medicamen Organics

28/06/2024 08:23

** Shares of Medicamen Organics  MEDM.NS  jump 325.6% in
market debut to 144.7 rupees 
    ** The pharma co opened at 137.85 rupees, a 305.4% premium
to IPO price of 34 rupees 
    ** Co raised 31 mln rupees ($371,675.90) in IPO via fresh
issue of shares - prospectus 
    ** MEDM to utilise IPO proceeds for product registration
expenses, plant upgrade, capacity boost and to fund working
capital requirements 
    ** This week, DEE Development Engineers  DEEV.NS  Akme
Fintrade  AKMF.NS  and Stanley Lifestyles  STAY.NS  surged
between 11% to 66% in debut trade




($1 = 83.4060 Indian rupees)

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))