Auto component maker GNA Axles today got listed at Rs 252.00 on the NSE with a premium of 22 per cent over its issue price of Rs 207.
On the BSE, the stock got listed at Rs 248.50 with a premium of over 20 per cent over its issue price.
Within minutes, the stock gathered momentum and touched an early high of Rs 260 on the BSE and Rs 261.80 on the NSE.
GNA Axles’ Rs 130-crore IPO was oversubscribed nearly 55 times during September 14-16. The company had fixed the price band at Rs 205-207 per share for the offer.
The portion reserved for qualified institutional buyers (QIBs) was oversubscribed 17.18 times, while that of the non institutional investors category by 217.47 times.
Retail investors’ category was subscribed 11.84 times.
The company proposes to utilise the proceeds of the issue for purchase of plant and machinery, meet working capital requirements and other general corporate purposes.
Marksans Pharma
Shares of Marksans Pharma surged over 12 per cent in early trade today after the company received approval from the USFDA for loratadine liquid-filled capsules, used for the treatment of allergies, in the American market.
The stock jumped 12.53 per cent to Rs 53.85 on the BSE.
On the NSE, shares of the company climbed 12.89 per cent to Rs 53.85.
“USFDA has granted approval for an abbreviated new drug application (ANDA) for loratadine liquid-filled capsules 10 mg”, Marksans Pharma said in a BSE filing.
Loratadine liquid-filled capsules are therapeutically equivalent to the reference listed drug Claritin Liqui-Gels Capsules 10 mg of Bayer Healthcare LLC, it said.
Loratadine is an antihistamine that reduces the effects of natural chemical histamine in the body. It is used for treating sneezing, runny nose, watery eyes, hives, skin rash, itching and other allergy symptoms.