Euro Pratik shares erased all the listing gains on September 23 and settled nearly 9 percent lower from the listing price on the debut day. The stock settled at Rs 248.2 per share on the NSE, down 8.78 percent from the listing price. The stock was up 0.49 percent from its IPO price.
Euro Pratik shares were listed with a premium of over 10 percent, following 1.34 times subscription to its Rs 451.31-crore issue in the primary market.
Shares of Euro Pratik Sales were listed at Rs 272.10 per share on the NSE, a premium of 10.16 percent. The company had set a price band of Rs 235-247 per share.
On the BSE, the shares were listed at Rs 273.45 per share, a premium of 10.71 percent. The company's market capitalization post listing of shares stood at Rs 2,794.66 crore.
Euro Pratik Sales share listing was better than the expectations in the grey market, which had estimated a listing gain of about 4 percent in the unregulated market.
Earlier, the company garnered Rs 135 crore from anchor investors.
Euro Pratik has an extensive product range catering to both residential and commercial applications, which is predominantly sold under its flagship brands 'Euro Pratik' and Gloirio. The company operates on an asset-light model - it outsources manufacturing to contract partners across South Korea, China, and the US.
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