Mumbai, Dec. 23 -- The stock debuted at Rs 370 on the BSE, exhibiting a discount of 3.65% over the issue price.

So far, the stock has hit a high of 370 and a low of 355. On the BSE, over 3 lakh shares of the company were traded in the counter so far.

The offer comprises both fresh issue (issue of new shares of Rs 5 face value aggregating to Rs 420 crore) and offer for sale (of shares aggregating to Rs 290 crore) by promoter selling shareholders.

Of the net proceeds from fresh issue, the company propose to utilize Rs 225.977 crore towards prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company; Rs 87.017 crore towards expansion of capacity at its existing manufacturin...