New Delhi : Solar panel manufacturing company Vaari Energies Limited has made a big entry in the stock market. It is being told that an increase has been registered in the issue price of shares of this company. There has been a huge jump of 70 percent in the shares of Vaari Energies at the issue price of Rs 1503. With this increase, the company's shares were listed in the market on Monday.
The shares are listed on BSE at Rs 2,550, which represents an increase of 69.66 percent from the issue price. After this it has increased by 72.98 percent to reach Rs 2,600. The shares are listed at Rs 2,500 on NSE with a gain of 66.33 percent. The market valuation of the company has been Rs 67,866.35 crore.
This percentage of subscription received
The initial public offering (IPO) of Vari Energies Limited was subscribed 76.34 times on the last day of bidding on Wednesday. The price range of Rs 1,427-1,503 per share was fixed for the company's Rs 4,321.44 crore IPO.
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This IPO made history
According to the information, the size of the IPO of Vaari Energies was Rs 4321 crore and the subscribers gave an excellent response to its IPO. The IPO of this company had received total bids of Rs 2.41 lakh crore and 97.34 lakh applications were received for it. This IPO has created the history of highest number of bids in the primary market. Vaari Energies' IPO received a total of 76 bids, out of which 208 times subscription was received from institutional category and 62 times subscription was received from non-institutional investors.
Came down after tremendous response
After the tremendous response to the shares of Vaari Energies Limited, pressure to book profits has also been seen on it. The shares of this company were listed on BSE at Rs 2550 per share, which after the initial rise has reached the price of Rs 2300 per share. Which clearly means that its listing price has fallen by about Rs 250 per share.
(with agency input)
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