Atlanta Electricals shares settled nearly 10 percent higher on debut day on September 29 at Rs 825.95 per share on the NSE, meanwhile, the stock concluded the day 3.62 percent lower from its listing price.
The company's shares made a decent stock market debut to list at 14 percent premium over the IPO price, after the issue fetched 70.63 times subscription to Rs 687.34-crore issue in the primary market between September 22-24.
Shares of Atlanta Electricals were listed at Rs 857 per share on the NSE, a premium of 13.66 percent. The company had set a price band of Rs 718-754 per share.
On the BSE, the shares of the company were listed at Rs 858.10 per share with a premium of 13.81 percent. The company's market capitalization post listing of shares stood at Rs 6,598.50
crore.
Atlanta Electricals IPO share listing was almost at par with the expectations in the grey market. The shares of the company were commanding a GMP of 15 percent in the unregulated market today. Earlier, it raised Rs 205 crore from anchor investors.
The Gujarat-based company proposes to utilise the proceeds from the issue for payment of debt, supporting working capital requirements of the company and for general corporate purposes.
Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
