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PNC Infratech has surged 16% to Rs 420 on the NSE on second day of its listing on the bourses, trading above its issue price of Rs 378 per share.
Shares of PNC Infratech on Tuesday had dropped nearly 5% and closed at Rs 361 on its stock market debut day. The Agra-based infrastructure company had raised over Rs 480 crore through an initial public offering (IPO) earlier this month.
The 12.9 million-share offering was subscribed 1.56 times. The retail and high networth individual (HNI) category had remained under-subscribed at 28% and 65% respectively. The institutional category had seen subscription of 4.5 times.
The stock opened at Rs 358 and touched a low of Rs 350 so far. A combined 1.76 million shares changed hands on the counter on the NSE and BSE.
At 1514 hours, the stock was up 11% at Rs 400 on the NSE.
Shares of PNC Infratech on Tuesday had dropped nearly 5% and closed at Rs 361 on its stock market debut day. The Agra-based infrastructure company had raised over Rs 480 crore through an initial public offering (IPO) earlier this month.
The 12.9 million-share offering was subscribed 1.56 times. The retail and high networth individual (HNI) category had remained under-subscribed at 28% and 65% respectively. The institutional category had seen subscription of 4.5 times.
The stock opened at Rs 358 and touched a low of Rs 350 so far. A combined 1.76 million shares changed hands on the counter on the NSE and BSE.
At 1514 hours, the stock was up 11% at Rs 400 on the NSE.
