Delhi Delhi. Rapid Valve shares hit 5 per cent upper circuit after opening week, taking the stock to an intraday high of Rs 347.55 per share on NSE SME (National Stock Exchange, Emerging Exchanges). The opening bell rang at Rs 344.00 per share on NSE SME , which soon hit the 5 per cent upper circuit price of Rs 347.55 per share on the NSE SME exchange. Rapid Valves shares were launched in the last week of September, offering investors Rs 54,000 (Rs 90 x 600) per lot. But got a big part of the profit.
The Rs 30.4 crore Rapid Valves India IPO, which was open for subscription from September 23 to September 25, was well received by investors. The issue was oversubscribed more than 176 times during the three-day bidding period, In which the company received bids for 16.03 crore shares as against 9.1 lakh shares which were put up for sale. Non-institutional investors (NIIs) dominated the demand, as evidenced by oversubscription of 491.5 times the shares reserved for them. Is. The retail investor category was overbid by more than 109 times, while the portion of qualified institutional buyers was booked by nearly 56 times.
Rapid Valves has gained more than 15 per cent since its listing price of Rs 312 per share on the NSE SME Exchange (National Stock Exchange, SME), giving a total rise of Rs 45.55 per share. The shares have fetched a profit of Rs 125.55 per share to the IPO allottees, which is a total profit to the allottees per lot (125.55 x 60 = Rs 75,330). The profit in the IPO is 56.55 percent from the issue price, which was Rs 222 per share.
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