Maharaja & Speedex India IPO shares rise 34% raising ₹80.13cr
Business
Maharaja & Speedex India made a splashy entry into the stock market this Friday, opening at ₹250 and quickly rising to ₹262.50, an impressive 34% above its issue price.
The IPO raised ₹80.13 crore through a mix of new shares and an offer for sale.
IPO oversubscribed 32.41 times
The IPO was a hot ticket, getting subscribed 32.41 times overall. Retail investors showed strong interest, while institutional buyers snapped up their share, too.
Shares were priced between ₹177-186 each (with a minimum investment of ₹2,23,200 for an application of 1,200 shares), and even before listing, there was a solid 15% gray market premium, so excitement was definitely in the air.