The stock listed at Rs 349, a gain of Rs 27 to the issue price of Rs 332 per share.
Shares of Sandhar Technologies were listed at a premium of 5 percent on the exchanges here.
The stock listed at Rs 349, a gain of Rs 27 to the issue price of Rs 332 per share.
The initial public offer of auto component maker Sandhar was subscribed 6.19 times during March 19-21, 2018.
The Rs 512-crore IPO received bids for 6.73 crore equity shares against the total issue size of 1.08 crore shares. Qualified institutional buyers (QIBs) category was subscribed 14.5 times, non institutional investors 6.39 times and retail investors 1.42 times.
The public offer consisted of fresh issue of shares worth Rs 300 crore and an offer for sale of up to 64 lakh shares (including anchor portion of 46,30,842 shares). The price band for the offer was at Rs 327-332.
The company plans to use a portion of the net proceeds towards repayment of certain loan facilities and for other general corporate purposes. ICICI Securities and Axis Capital are the book running lead managers to the issue.