Mumbai, March 5 -- The scrip was listed at Rs 260, a premium of 266.20% compared with the initial public offer (IPO) price. The stock is currently frozen at its lower limit of 5% over its listing price.

The counter hit a high of Rs 273 and a low of Rs 247. About 22.22 lakh shares of the company changed hands at the counter.

Purv Flexipack's IPO was subscribed 283.32 times. The issue opened for bidding on 27 February 2024 and it closed on 29 February 2024. The price band of the IPO was fixed between Rs 70 to 71 per share.

The IPO comprised fresh issue of 56,64,000 shares. The company intends to utilise the net proceeds for repayment of existing borrowings availed by the company from scheduled commercial banks, meet working capital requi...