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Goenka Diamond lists at discount

April 16, 2010

MARKETS-SOUTHASIA-STOCKS/
Shares in Goenka Diamond listed on Friday at a discount of nearly four percent on the BSE and over 8 percent on the NSE from its issue price of 130 rupees.

The stock ended 5.3 percent lower after plunging nearly 32 percent from its issue price to 92.35 rupees in intra-day trade, with volumes of over 30 million shares.

The company plans to use the rupees 145 crore raised from the initial public offering to set up jewellery manufacturing and diamond processing facilities in Mumbai and expand its retail outlets pan-India.

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