Shares of fragrance maker S H Kelkar and Co made a remarkable debut at the bourses today, ending with over 15 per cent gains over the issue price of Rs 180 per share.
The stock listed at Rs 222, a jump of 23.33 per cent over the issue price, on BSE. Intra-day, it soared 23.72 per cent to touch a high of Rs 222.70.
The stock finally settled at Rs 207.30, up 15.16 per cent.
On NSE, the stock debuted at Rs 223.70, a sharp surge of 24.27 per cent over the issue price, and finally ended with a robust gain of 15.69 per cent at Rs 208.25.
Volume-wise, 54.83 lakh shares of the company changed hands at BSE and over 2.3 crore shares at NSE during the day.
The company commands a market valuation of Rs 2,997.99 crore.
The firm's Rs 500-crore initial public offer (IPO), which closed last month, received an overwhelming response from investors and was oversubscribed 27.08 times.
This was the fourth IPO this year after VRL Logistics, Power Mech Projects and Syngene International to have received such a strong response in terms of subscription.
The price band for the IPO was fixed at Rs 173-180.
S H Kelkar is the third company after InterGlobe Aviation and Coffee Day Enterprises to make its stock market debut this month.
Shares of IndiGo's parent company InterGlobe Aviation made a remarkable debut on the bourses last week, surging nearly 15 per cent over the issue price of Rs 765 per share.
The stock is at present quoting at Rs 987.60, down 1.56 per cent.
In contrast, Coffee Day Enterprises, which runs Cafe Coffee Day outlets, made a sluggish debut on the exchanges earlier this month. The company is trading at Rs 268.20, way below its issue price of Rs 328.
