Mumbai, March 7 -- The scrip was listed at Rs 79, a discount of 34% compared with the initial public offer (IPO) price. The stock is currently frozen at its upper limit of 5% over its listing price.

The counter hit a high of Rs 82.95 and a low of Rs 75.05. About 3.13 lakh shares of the company changed hands at the counter.

M.V.K. Agro Food Product's IPO received was subscribed 8.13 times. The issue opened for bidding on 29 February 2024 and it closed on 4 March 2024. The price of the IPO was fixed at Rs 120 per share.

The IPO comprised fresh issue of 54,90,000 equity shares. The promoter and promoter shareholding diluted to 64.56% from 100% pre-IPO.

The company intends to utilize the net proceeds to setting up a greenfield unit in Nan...