Shares of Azad Engineering Ltd ended with a premium of over 29 per cent against the issue price of Rs 524 on the first day of trade on Thursday.
The stock made its debut at Rs 710, reflecting a jump of 35.49 per cent from the issue price on the BSE. During the day, it zoomed 38.83 per cent to Rs 727.50. Shares of the company ended at Rs 677.10 apiece, rallying 29.21 per cent.
On the NSE, the stock listed at Rs 720, up 37.40 per cent. Shares of the company ended at Rs 673.25 per piece, a jump of 28.48 per cent.
The company’s market valuation stood at Rs 4,002.54 crore.
In volume terms, 7.80 lakh shares of the company were traded on the BSE and over 1.51 crore shares on the NSE during the day.
In the equity market, the 30-share BSE Sensex jumped 371.95 points or 0.52 per cent to settle at an all-time closing high of 72,410.38. The Nifty climbed 123.95 points or 0.57 per cent to settle at a fresh record of 21,778.70.
The initial share sale of Azad Engineering received 80.60 times ..
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