Money on the markets

A maturing market amid the mayhem

Cox and Kings zooms on mkt debut

December 11, 2009

INDIA-BUDGET/

Shares of travel operator Cox and Kings (India) Ltd closed nearly 30 percent up on Friday after listing about 8 percent lower than its issue price of 330 rupees.

Shares in the counter rose to an intra-day high of 433.45 rupees before closing at 426.05 with volumes of 16.9 million shares.

The firm has raised 6.1 billion rupees through the IPO, of which 5.1 billion rupees will be used for retiring debt and acquisitions.

The response to the travel operator’s IPO has been encouraging on the opening day. Do you think it makes a good buy and holds potential?

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