Latest News | Indigo Paints Makes Impressive Market Debut; Shares Zoom over 109 Pc
Get latest articles and stories on Latest News at LatestLY. Shares of Indigo Paints on Tuesday made an impressive market debut and jumped over 109 per cent at close of trade against its issue price of Rs 1,490.
New Delhi, Feb 2 (PTI) Shares of Indigo Paints on Tuesday made an impressive market debut and jumped over 109 per cent at close of trade against its issue price of Rs 1,490.
The stock got listed at Rs 2,607.50, registering a sharp gain of 75 per cent against its issue price on BSE. Later, it zoomed 110 per cent to Rs 3,129 during the day. It finally closed at Rs 3,118.65, rising 109.30 per cent.
On NSE, it listed at Rs 2,607.50, jumping 75 per cent and then closed with a gain of 109.20 per cent at Rs 3,117.15.
The company's market valuation was at Rs 14,835.11 crore on BSE.
In volume terms, 10.36 lakh shares were traded at BSE and over 1.26 crore on NSE.
Indigo Paints' Rs 1,170-crore initial share-sale last month garnered an overwhelming response from investors and was subscribed 117 times.
The price range for the offer was fixed at Rs 1,488-1,490 per share.
The Pune-based company manufactures a range of decorative paints and has an extensive distribution network across the country.
The offer was open for subscription during January 20-22.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)