Jet Knitwears goes public

Kanpur-based Jet Knitwears has become Uttar Pradesh’s first hosiery company to go public through its initial public offering (IPO). The company has listed on National Stock Exchange (NSE) Emerge platform, which is dedicated to Small and Medium Enterprises (SME) and other emerging corporates in India. 

Jet’s public issue was open for subscription between September 27 and 29, Jet Knitwears’ MD, Balram Narula said. Jet had floated the public issue of over a million shares having face value of Rs 10 each for cash at a price of Rs 39 each, including premium of Rs 29 apiece. It has mopped up over Rs 4.22 crore from the IPO.

Emerge is a platform to raise funds for companies, which are on a growth path, but not large enough to list on its main board.