Kanohar Electricals shares made a muted debut in the Indian stock market on Wednesday after its initial public offer (IPO) received robust demand.
Kanohar Electricals shares were listed at Rs 685.50 apiece on the NSE, a premium of 8.47% to its issue price of Rs 632.00 per share.
On BSE, Kanohar Electricals stock was listed with 6.34% premium at Rs 672.05 apiece.
Kanohar Electricals IPO listing today was weaker than the Street estimates, as indicated by the grey market premium (GMP). Ahead of the debut, Kanohar Electricals IPO GMP today signalled a listing gain of nearly 29%.
Kanohar Electricals IPO was open for subscription from September 8 to 10 and was booked 90.59 times in total. The IPO price band was Rs 601 to Rs 632, and the company raised Rs 1,055.74 crore from the issue.
Nuvama Wealth Management Ltd. is the book running lead manager and MUFG Intime India Pvt. Ltd. was the Kanohar Electricals IPO registrar.
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