Vidya Wires made a muted debut on the NSE today, with its shares listing at ₹52, the same as the issue price. Despite the muted opening, the stock gained traction soon after and surged over 11 per cent to hit a high of ₹57.95 in early trade.
On the BSE, it debuted at ₹52.13.
The stock settled with 2 per cent increase at ₹53.14 and ₹53.17 on the BSE and NSE, respectively.
The company’s listing comes on the back of The ₹300-crore IPO was subscribed 26.59 times on the final day. Non-institutional investors led the demand with 51.98 times subscription, while the retail category saw 27.86 times subscription. QIB’s portion was subscribed 5.12 times.
Ahead of the offering, the company mobilised ₹90 crore from anchor investors. The IPO was priced in the ₹48–52 range and comprised a fresh issue of ₹274 crore along with an offer for sale of 50.01 lakh shares worth ₹26 crore.
The company, a manufacturer of winding and conductivity products, to use the proceeds for capital expenditure on new projects in its subsidiary ALCU, repayment of debt, and general corporate purposes.
The steady listing followed by early gains indicates cautious but positive sentiment as the company enters the public market.