Shares of integrated wind energy firm Inox Wind made a spectacular debut on bourses today, surging 23 per cent by afternoon trade, against the issue price of Rs 325 per share.
The stock debuted at Rs 400, reflecting a sharp gain of 23 per cent over the issue price, on the BSE.
At the NSE also, the stock opened at Rs 400.
Inox Wind’s shares were later trading at Rs 416.20 per scrip during afternoon trade on the BSE.
The company’s Rs 700-crore initial public offer, which ended on March 20, was subscribed over 18 times.
Inox Wind’s public issue is the biggest IPO since June 2013, when Just Dial had launched its public offer to raise Rs 916 crore.
The price band for the integrated wind energy firm’s initial share sale was Rs 315-325 apiece.
The company had allocated shares worth Rs 306 crore to anchor investors, taking the total issue size to over Rs 1,000 crore.