New Delhi: Patel Retail IPO made a stellar listing on stock markets on Tuesday (August 26). Shares of Patel Retail debuted at a nearly 20 percent premium over the IPO price of Rs 255 apiece.
Patel Retail shares were listed at Rs 300 apiece on NSE, reflecting a premium of 17.65 percent, while on BSE the stock listed at Rs 305. The company had set a price band of Rs 237 to Rs 255 per share for the IPO.
Patel Retail IPO
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The initial share sale of Patel Retail Ltd was subscribed 95.70 times. The Rs 242.76-crore initial public offer received bids for 74,79,89,402 shares against 78,15,612 shares on offer, according to data available with the NSE.
Qualified institutional buyers (QIBs) received a whopping 272.43 times subscription, while the quota for non-institutional investors got subscribed 108.17 times. The retail individual investors (RIIs) category received 42.49 times subscription.
Meanwhile, contrary to market expectations and GMP prices, shares of Vikram Solar, which also debuted today, made a lukewarm debut. The stock listed at Rs 340 on the BSE, a 2.4 percent premium over its issue price of Rs 332, while it opened on the NSE at Rs 338, up 1.81 percent.
The company’s Rs 2,079-crore IPO, open from August 19–21, received a robust response with an overall subscription of 54.63 times. Interest was led by QIBs (142.79x), followed by NIIs (50.90x) and retail investors (7.65x).
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