One Mobikwik Systems, Vishal Mega Mart, and Sai Life Sciences shares recorded spectacular performance on their market debut, despite the equity markets being under pressure on December 18. The benchmark Nifty 50 shed 2.6 percent in the last three sessions.
One Mobikwik Systems, a financial technology company providing payment system and digital wallet, performed better than other two listed companies on the bourses on Wednesday. Its shares opened 57.7 percent higher at Rs 440 on the NSE, and hit Rs 525 level in the opening trade. It remained consolidative between Rs 500-525. The stock has seen a consolidation breakout in the last hour of trade and hit the highest level of Rs 528 to freeze at close, up 20 percent over the opening level and up 89.25 percent over the issue price of Rs 279.
The exchanges use 20 percent upper and lower circuit for new listing if the IPO size is more than Rs 250 crore.
However, on the BSE, the stock rallied 90.07 percent to close at Rs 530.30 but failed to lock at upper circuit, shying away by small margin from its record high of Rs 530.70.
Mobikwik closed with a market capitalisation of Rs 4,119.71 crore on Wednesday. It traded with volume of 2.95 crore equity shares on the NSE, and 26.02 lakh shares on the BSE.
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The company has mobilised Rs 572 crore through its maiden public issue during December 11-13, which comprised of solely fresh issue. The price band for the offer was Rs 265-279 per share.
Shares of Vishal Mega Mart, a hypermarket chain, surged 43.50 percent to close at Rs 111.93 apiece on the NSE, after hitting an intraday high of Rs 114.40 and low of Rs 104, with volume of 72.87 crore equity shares.
The shares opened at Rs 104, up 33.3 percent over the issue price of Rs 78 per share. The remained in the range of Rs 111-107 since the opening trade, and saw breakout in the last couple of hours of trade to hit day's high of Rs 114.40.
On the BSE, it finished the session at Rs 111.95, up 43.53 percent, with volume of 7.95 crore shares.
Vishal Mega Mart has crossed the Rs 50,000-crore market capitalisation, at Rs 50,475.11 crore.
The company, which targets middle and lower-middle-income groups, sells apparel, general merchandise, and FMCG products through its Pan India network of 645 Vishal Mega Mart stores. It has raised Rs 8,000 crore through initial share sale which consisted of entirely an offer-for-sale by the promoter. The price band for the offer, which opened for public subscription during December 11-13, was Rs 74-78 per share.
Sai Life Sciences shares recorded 39.28 percent gains on Wednesday, closing at Rs 764.65 apiece on the NSE, after witnessing an intraday high of Rs 780 and low of Rs 650. The scrip traded with volume of 4.66 crore equity shares.
The stock opened at Rs 650, rising 18.4 percent over the offer price of Rs 549 per share.
On the BSE, it finished at Rs 765.30, up 39.40 percent and up 17.7 percent over the opening price. Its market capitalisation stood at Rs 15,917.44 crore.
The Hyderabad-based contract research, development, and manufacturing organisation (CRDMO) provides drug discovery, development, and manufacturing services for small molecule new chemical entities to global pharmaceutical innovator companies and biotechnology firms. It has mopped up Rs 3,042.6 crore through its maiden public issue during December 11-13. The price band for the offer was Rs 522-549 per share.
The IPO was a combination of fresh issuance of equity shares worth Rs 950 crore, and an offer-for-sale of 3.8 crore shares worth Rs 2,092.6 crore.
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