Shankara Building gains 38% on debut

Home improvement and building products firm Shankara Building Products made a stellar trading debut on Wednesday. Shares of the company closed 38 per cent above its initial public offering (IPO) price. The stock closed at Rs 632.8 on the BSE, up Rs 172.8 or 37.57 per cent over the issue price of Rs 460.  Market participants said the positive response for Shankara on its listing day was on expected lines, given the high investor demand witnessed during the IPO. The Rs 345-crore IPO was subscribed more than 40 times. IDFC Bank, Equirus Capital and HDFC Bank were the book-running managers