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Shares of Jaipur-based Tijaria Polypipes got listed at Rs 62 apiece on the BSE today, a premium of 3.34 per cent over their issue price of Rs 60, before surging by 13 per cent to Rs 67.80 within minutes of opening trade.
A similar movement was witnessed on the National Stock Exchange as well, where the stock — after getting listed at Rs 61 — surged to an early high of Rs 67.75, up 12.91 per cent, from its issue price.
On the volume front, over 1.26 crore shares exchanged hands on the BSE and more than 1.58 crore shares got traded on the NSE by 11.49 am.
The scrip, however, saw the initial gains pared in later trade and was quoting at Rs 61.65 on the BSE and NSE.
The company had raised Rs 60 crore through its IPO, which was subscribed 1.2 times.
Tijaria Polypipes manufactures high grade HDPE, MDPE, LDPE, LLDPE, PVC and PPR pipes under the registered brand names of Tijaria and Vikas.
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