Shares of Chalet Hotels Limited which owns, develops and manages high-end hotels in key metro cities in India, rose 5 per cent in debut trade Thursday against its issue price of Rs 280.
The company's stock opened the day at Rs 291, up 3.92 per cent, from the issue price on the BSE. It later jumped 4.85 per cent to Rs 293.60.
On the NSE, shares listed at Rs 294, up 5 per cent against the issue price.
The company's market valuation stood at Rs 6,034.88 crore on the BSE.
Chalet Hotels initial public offer (IPO) was open from January 29-31, 2019 and was in a price range of Rs 275-280 per share.
The initial public offering was subscribed 1.57 times.
JM Financial Limited, Axis Capital Limited and Morgan Stanley India Company Private Limited managed the issue.
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