| The IGL stock, sold at Rs 48 per share, opened at the bourses at Rs 92, giving allottees almost a 100 per cent gain at the opening bell. |
| The stock went on to hit an intra-day high of Rs 125, but closed at Rs 119.20 on the Bombay Stock Exchange (BSE), a neat 150 per cent premium over its issue price. However, the National Stock Exchange website quoted the stocks' intra-day high price at Rs 199.70. |
| The IGL IPO was oversubscribed about 30 times and in the kerb markets, the stock was quoting between Rs 70-80 before listing. IGL is promoted by two energy sector enterprises "� Gail (India) Limited and Bharat Petroleum Corporation Limited. |
| More than 98.01 lakh shares were traded on the counter on the BSE and close to 1.98 crore shares on the NSE. |
| The markets see in the stock's strong performance on debut and volumes of trades, a sure sign that the IPO market is gaining strength. |
| Anup Bagachi, managing director and CEO, ICICI Direct said, "The IGL performance shows that there is a good appetite for quality IPOs." |
| The response garnered by IGL on listing has taken the market by surprise, even though it was already expecting a solid debut. |
| IGL made the public issue of 40 million shares in order to provide an exit route to existing shareholders, namely the IL&FS Trust, Infrastructure Development Finance Company and UTI-Infrastructure Fund Unit scheme. |
| IGL, a gas distribution company, draws upon the distribution skills of Gail and the retail marketing experience of BPCL in its operations. GAIL and BPCL, each hold a 22.5 per cent stake in the company. |
| The Delhi government holds a 5 per cent stake. Together, the three hold a 50 per cent stake in the company, post-IPO. |
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