Shares of Uma Exports Ltd. ended higher after a strong debut on the bourses.
The stock of the company engaged in trading and marketing of agricultural commodities listed at Rs 76 apiece on the National Stock Exchange, a premium of 11.76% to its IPO price of Rs 68.
It then surged as much as Rs 84, up 23.5%, before ending at Rs 79.8—a 17.35% gain.
The company's IPO had received 7.67 times more demand than the shares on offer. The portions reserved for institutional and non-institutional investors was subscribed 2.81 and 2.22 times, respectively, while retail investors subscribed 10.11 times.
The issue was open for subscription between March 28 and 30. The issue size was at Rs 60 crore.
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