Shares of Orient Electric were listed at Rs 135 on the NSE on Monday, following its demerger with Orient Paper.
At the listing price, it went on to Rs 142-levels and then settled around its listing levels.
The listing follows the demerger of the company from Orient Paper & Industries Limited last year.
As per the scheme of arrangement between Orient Paper & Industries Limited and Orient Electric Limited and their respective shareholders and creditors, the Consumer Electric Business of Orient Paper & Industries Ltd was transferred to Orient Electric.
Orient Electric Limited issued to the shareholders of Orient Paper & Industries Limited, one equity share of Re. 1/- each of Orient Electric Limited for every share of Re 1/- each held in Orient Paper & Industries Limited, as on the record date of 12th January 2018.
The issued, subscribed and paid-up equity capital of the company post arrangement is Rs. 21.22 crore, the company said in a statement.