Sansera Engineering Shares End 10% Higher On Market Debut
Shares of Sansera Engineering Ltd. gained on market debut after its Rs 1,283-crore initial public offering was subscribed 11.47 times.
The stock listed at Rs 818.7 apiece, a 10% premium to its IPO price of Rs 744, according to data available on the bourses. It then swung between an intraday high of Rs 841.95 and low of Rs 801 apiece during the course of its debut session. It ended day's trading at Rs 818.05 apiece, up 9.95%.
The IPO was the 15th-least subscribed issue so far this year. Institutional and non-institutional investors led the demand. The company sold shares at Rs 734-744 apiece, giving it a market value of Rs 3,823 crore at the upper end of the price band.
The company joined a flurry of IPOs in the Indian market this year. The amount of money raised in IPOs in 2021 has reached nearly $10 billion (Rs 75,000 crore), already surpassing the total of the past three years though it’s only September. Newly-listed Indian stocks are beating the benchmark Nifty 50 Index by the most in seven years.