Sylvan Plyboard stock debuts with 20% premium on NSE SME platform
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The shares of Sylvan Plyboard listed on the NSE SME platform with a premium of 20% on Monday. The stock debuted at Rs 66 as against an issue price of Rs 55. Ahead of the listing, the company's shares traded with a premium of Rs 30 in the unlisted market. The IPO, which was completely a fresh equity sale of 51 lakh shares, was subscribed over 80 times at close. The net proceeds from the public offer will be used for funding capital expenditure, working capital requirements, issue related expenses and general corporate expenses. The company is engaged in the manufacturing of various wood products such as plywood, block board, flush door, veneer and sawn timber across various grades and thickness.Slyvan Plyboard has diversified into manufacturing activities by setting up an integrated manufacturing facility in Baidyabati, West Bengal, spread over an area of nearly 11.61 acres.The company said it is dedicated to constantly expanding and u...