Shares of garment maker S P Apparels made a robust stock market debut today, rising nearly 14 per cent on the BSE over the issue price of Rs 268.
The stock debuted at Rs 305, reflecting a gain of 13.8 per cent as compared to the issue price on BSE.
At NSE, shares of the company listed at Rs 275, up 2.61 per cent.
The company commands a market valuation of Rs 737.41 crore.
S P Apparels' IPO was oversubscribed nearly three times during August 2-4.
The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 2.21 times, while non institutional investors 5.10 times, as per NSE data.
Retail investors portion was oversubscribed 1.90 times.
Price band for the IPO was fixed at Rs 258-268 per share.
The book running lead managers were Motilal Oswal Investment Advisors and Centrum Capital.
This was the 16th IPO to have hit the market so far this year.
S P Apparels is a manufacturer and exporter of knitted garments for infants and children.
In 2015-16, the company exported around 35.98 million pieces of knitted garments for infants and children directly to international customers, including Tesco and Primark.
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