Shares of Paras Healthcare made a positive debut on the stock exchanges on October 28, listing at a premium of around 4 percent over the initial public offering (IPO) price.
The stock listed at Rs 720 per share on both the BSE and NSE, a premium of 3.9 percent over the IPO issue price of Rs 693 per share. Following the listing, the company's market capitalisation stood at around Rs 7,790.49 crore.
The listing was broadly in line with grey market expectations. The grey market premium (GMP) had indicated a potential listing gain of nearly 2 percent ahead of the debut, according to Investorgain.
The grey market premium is an unofficial indicator of investor sentiment and is based on transactions outside the regulated stock exchanges. It does not guarantee listing gains, and the premium may change before the shares begin trading.
The Rs 1,450-crore IPO of Paras Healthcare received an overall subscription of 2.23 times on the final day of bidding, according to data from the NSE. The issue received bids for 2,69,39,346 shares against 1,20,83,331 shares on offer.