Priority Jewels Shares List 15% Higher, Rally to Upper Circuit on Strong Demand
NEW DELHI: Shares of Priority Jewels made a strong debut on the stock exchanges on Friday, listing at a premium of up to 15 per cent over their issue price of Rs 200 amid robust investor demand.
The stock opened at Rs 230 on the NSE, representing a 15 per cent premium over the issue price, and subsequently extended its gains to hit the upper circuit limit.
On the BSE, the shares began trading at Rs 225.20, translating into a 12.6 per cent premium over the issue price.
Priority Jewels’ Rs 91.50-crore initial public offering comprised an entirely fresh issue. The IPO, which was open from August 28 to September 1, witnessed strong investor interest and was subscribed 100.45 times overall.
The company had fixed the IPO price band at Rs 190-Rs 200 per share, with a lot size of 75 shares. The strong listing comes after heavy demand during the subscription period, with the non-institutional investor category subscribed more than 166 times and the retail portion over 106 times.
