Raj Oil Mills Limited made its debut yesterday on the BSE. The company had come out with its maiden public issue in a price band of Rs 100 – 120 and shares were allotted at Rs 120. The response to the issue was a little muted as the investors felt the share was overvalued in comparison to its listed peers.

The share opened at Rs 15.05, made a high of Rs 133.70, a low of Rs 115.60 and closed at Rs 119.30, marginally below the issue price. The volume traded was 1,73,91,025 shares and a high 15.46% of traded volume or 26,89,365 shares were marked for delivery.