Shanti Gold Shares Surge 15% on Debut
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Shanti Gold International shares jump over 15% on debut trade, opening at Rs 229.10 on BSE. IPO oversubscribed 80 times.
Photograph: Rupak De Chowdhuri/Reuters
New Delhi, Aug 1 (PTI) Shares of Shanti Gold International Ltd on Friday listed with a premium of over 15 per cent against the issue price of Rs 199.
The company's stock started trading at Rs 229.10, a jump of 15.12 per cent from the issue price on the BSE.
At the NSE, it surged 14.34 per cent to Rs 227.55 in opening trade.
The company's market valuation stood at Rs 1,679.84 crore.
The initial public offer of Shanti Gold International Ltd garnered 80.80 times subscription on the closing day of bidding on Tuesday.
The initial share sale had a price band of Rs 189-199 per share.
The Rs 360-crore Initial Public Offering (IPO) was entirely a fresh issue of 1.81 crore shares worth Rs 360.11 crore, at the upper end of the price band, with no offer-for-sale (OFS) component.
Proceeds of the issue will be used for setting up a facility in Jaipur, funding the company's incremental working capital requirements, payment of debt and for general corporate purposes.
Shanti Gold specialises in the design and production of various types of gold jewellery.
The company's stock started trading at Rs 229.10, a jump of 15.12 per cent from the issue price on the BSE.
At the NSE, it surged 14.34 per cent to Rs 227.55 in opening trade.
The company's market valuation stood at Rs 1,679.84 crore.
The initial public offer of Shanti Gold International Ltd garnered 80.80 times subscription on the closing day of bidding on Tuesday.
The initial share sale had a price band of Rs 189-199 per share.
The Rs 360-crore Initial Public Offering (IPO) was entirely a fresh issue of 1.81 crore shares worth Rs 360.11 crore, at the upper end of the price band, with no offer-for-sale (OFS) component.
Proceeds of the issue will be used for setting up a facility in Jaipur, funding the company's incremental working capital requirements, payment of debt and for general corporate purposes.
Shanti Gold specialises in the design and production of various types of gold jewellery.
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