Advit Jewels lists at 37% premium following 212x subscription
Business
Advit Jewels just had a standout moment on the stock market, opening at a 37% premium over its IPO price.
The IPO, priced between ₹130 and ₹138 per share, was a huge hit. Investors rushed in with demand so high it was subscribed over 212 times.
Shares started trading at ₹188.90 on NSE and ₹187 on BSE.
Advit Jewels market value ₹856.65 cr
With this listing, Advit Jewels's market value jumped to ₹856.65 crore; the ₹165.16-crore issue was part of its public issue.
The strong response shows investors are feeling good about where the company is headed next.