Regaal Resources Ltd listed at a 39% premium to its IPO price of ₹102, opening at ₹141.80 on BSE and ₹141 on NSE.
Stock later rose 42.84% to ₹145.70; market valuation stood at ₹1,377.52 crore.
IPO worth ₹306 crore was subscribed 159.88 times, reflecting strong investor demand.
Shares of Regaal Resources Ltd, a maize-based speciality product manufacturer, on Wednesday listed with a premium of 39% against the issue price of ₹102.
The stock started trading at ₹141.80, a jump of 39% from the issue price on the BSE. Later, it zoomed 42.84% to ₹145.70.
At the NSE, the stock listed at ₹141, up 38.23%.
The company's market valuation stood at ₹1,377.52 crore.
The initial public offer of Regaal Resources Ltd got subscribed a huge 159.88 times on the closing day of bidding on Thursday last week, driven by heavy investors demand.
The ₹306 crore Initial Public Offer (IPO) had a price band of ₹96-102 per share.
The IPO had a fresh issue of shares worth ₹210 crore and an Offer For Sale of 94.12 lakh shares valued at ₹96 crore by promoters, at the upper end of the price band, aggregating the issue size to ₹306 crore.
Of the fresh issue proceeds, ₹159 crore will go towards repayment or pre-payment of certain borrowings.
Regaal Resources operates a zero liquid discharge maize milling facility catering to customers in food products, paper, animal feed and adhesives across India, and in export markets such as Nepal and Bangladesh.
