Maxwell Engineering Solutions shares made a blockbuster debut on the stock market on November 6, listing at a premium of 90 percent over the IPO price on the NSE Emerge platform.
The shares listed at Rs 300.20 apiece, compared with the IPO issue price of Rs 158, delivering a listing gain of Rs 142.20 per share to investors who received an allotment.
The debut also exceeded grey market expectations. Maxwell Engineering Solutions was commanding a grey market premium (GMP) of around 67% on the morning of November 6, according to Investorgain.
However, the grey market is an unofficial market, and GMP trends are not a reliable indicator of the actual listing price. The final listing performance depends on prevailing market conditions and investor sentiment.
Investors placed bids for approximately 128.94 crore equity shares against the 26.24 lakh shares on offer during the subscription period between October 30 and November 3. The total value of bids stood at approximately Rs 20,372 crore.