Shares of PC Jeweller today debuted with an over one per cent gain on the bourses and soon surged more than 9 per cent over its issue price of Rs 135 a share.
The company’s shares opened the day on a positive note and as trade progressed gained 9.37 per cent to Rs 147.65 on the BSE.
At NSE, the scrip was trading higher by 9.44 per cent at Rs 147.75 after debuting at Rs 137.
The Rs 609-crore initial public offer (IPO) of PC Jeweller was oversubscribed 6.85 times on the last day of the issue on December 12.
The company had fixed the price band of the IPO at Rs 125-135 per share. The issue price was fixed later at Rs 135 a share.
PC Jeweller has 30 showrooms across the country and it plans to open 20 new retail showrooms by utilising funds raised through IPO.
The Delhi-based jeweller had posted a turnover of about Rs 3,000 crore in the 2011-12 fiscal.