Indigo Paints made its debut in the market with a giant premium of 75 percent exceeding the issue price.
The company just filed its IPO in the last month and witnessed a very strong issue subscription. Issue has a very bullish market sentiment on the back of big budget.
Indigo Paints scrip unlocked at Rs 2607.50 on the BSE at a 75 percent higher premium rate. The issue price was Rs 1,490.
The opening price is however corresponding to the NSE as well. Same stock opened at Rs 2607.50 on the NSE as well with a 75 percent premium.
Indigo Paints stocks have been rocking on both the indexes. It quoted a 70 percent higher value at Rs 2,532.45.
Also, it reported a volume of 4,186,376 shares on NSE. On the other hand, shares were trading at Rs 2,533.45 and volume of 364,745 shares on BSE as well.
The stocks are trading at 70 percent higher on both the indexes.
Indigo Paints is the fifth largest company in Indian decorative paint industry. It has raised Rs 1,170 crores in terms of revenue from operations via its public issue.
The issue was subscribed 117 times during its release in January which consisted a fresh issue of Rs 300 crore. The offer for sale was Rs 870 crore by its investors.
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