Shares of IndiaMART InterMesh, On Thursday, made a stock debut on bourses. The stock opened over 20% higher on the NSE at Rs.1180-per share V/s to its issue price of Rs.973/- These shares rallied about 25% to touch an intraday new 52-week high of Rs 1,338 on NSE.
The IPO of IndiaMart, which was performed between June-24 – 26 was subscribed over 36-times. The offer for sale was made at a price band of Rs 907 to 973 per share.
India Mart is a Business-to-business market place for products for entrepreneurs and manufacturers, exporters, retailers and so on. The company has a niche of 82.70-mln registered buyers and 5.55-mln suppliers in India that listed 60.73-mln products.
Market Updates: The Stock market, during mid-market at 12:00 hours, scaled higher with Nifty at 11949-level up by 32 points and the Sensex at 39923-level up by 84 points.
UPL, Indiabulls Housing, Bharti Airtel, IndusInd bank and Eicher Motors were major gainers on the Nifty, whereas Titan, HCL Tech and SunPharama led the losses.