D B Realty opens down 8 pct at Rs 430

DB Realty entered the capital market with an issue size of 24.32 crore equity shares with a face value of Rs 10.

On the National Stock Exchange,the scrip opened down 3.39 per cent at Rs 452.10.

The company would use the proceeds towards new projects,pre-payment of a loan from IDFC and corporate purposes.

DB Realty focuses on residential,commercial,retail and other projects,such as mass-housing and slum redevelopment,in and around Mumbai.

Shares of another company,Emmbi Polyarns,which makes polymer-based products for packaging,water conservation and road building products,listed with a marginal premium of 1.11 per cent at Rs 45.50 on the BSE. On the National Stock Exchange,the stock opened up 2.22 per cent at Rs 46.

The company has offered 1.64 crore shares at an issue price of Rs 45 per share.

The proceeds would be used to increase the present installed capacity from 5,000 MTPA to 17,800 MPTA. The expansion project is proposed to be located at Silvassa in Dadra and Nagar Haveli.