The share price rallied as much as 27.24 percent intraday while it opened with 8 percent premium on the NSE.
The share price opened at Rs 313 per share against issue price of Rs 290.
Although analysts are not expecting a blockbuster listing, a small premium to the issue price could well be on the cards.
This would be third life insurance company getting listing on exchanges, after ICICI Prudential Life and SBI Life.
Khadim India has settled the trade at Rs 688.85 per share on the National Stock Exchange against IPO price of Rs 750. During the day, it could not cross issue price.
The stock fell as much as 4.5 percent in early trade to hit day's low of Rs 716 while its pre-opening price of Rs 730 remained the highest level.
The company’s shares closed at Rs 725.05 apiece, down 3.18 percent to the listing price of Rs 748.90 apiece, on the BSE.
The new entrant’s initial public offering (IPO), which sought to raise Rs 9,600 crore, was oversubscribed around 1.19 times. The price band was Rs 770-800 per share.
The 3rd party logistics (3PL) solutions provider raised Rs 829.35 crore through the issue, at higher end of price band of Rs 425-429 per share.
The company has managed to create a unique positioning in the industry and is an asset-light organization, said Pirojshaw Sarkari, CEO, Mahindra Logistics.
It touched day's low of Rs 416.10 on the National Stock Exchange while its issue price is day's high.
The initial public offering was oversubscribed over 7.9 times during October 31-November 2, 2017.
On the BSE, the stock closed with a premium of 12.7 percent at Rs 284 after hitting day's high of Rs 298.70 and low of Rs 278.
emain committed to creating long-term wealth for investors, said Sundeep Sikka, ED & CEO, Reliance Nippon Life AMC.
In an interview to CNBC-TV18, Santosh Singh, Head of Research-India at Haitong Securities shared his views and readings on the new listing of Reliance Nippon Life Asset Management.
Reliance Nippon Life Asset Management started off first trade at Rs 297.55 on the National Stock Exchange, a premium of 18 percent over issue price.
The company's IPO was oversubscribed 81.54 times during October 25-27, data available with the NSE showed.
The stock did touch a high of Rs 867 and low of Rs 850 (the price in pre-opening trade) in early trade.
The IPO comprises sale of 9.6 crore shares by the government, besides fresh issue of 2.4 crore shares. Thus a total of 12 crore shares of the non-life insurer would be sold through the share sale offer, constituting around 14.56 per cent of the company's post issue share capital.
The stock price closed at Rs 1,629.15, falling 1.3 percent on the NSE while on the BSE, it settled at Rs 1,626.45, down 1.43 percent.
It's a weak debut for IEX on Dalal Street. The stock lists at discount of over 5 percent to the issue price of Rs 1,650 per share. CNBC-TV18’s Yash Jain caught up with SN Goel, MD and CEO of the company and began by asking about the company's fund raising plans and growth targets.
Indian Energy Exchange opened sharply lower at Rs 1,500, falling 9 percent against issue of Rs 1,650 per share on Monday.
Indian Energy Exchange's issue price is fixed at Rs 1,650 per share, the higher end of price band.
The stock had a whopping premium of 44 percent on the National Stock Exchange on Wednesday at Rs 660 against its issue price of Rs 459.
MAS Financial Services has opened at Rs 660 against its issue price of Rs 459.