Business IdeasGodrej Properties commands 9% premium on debut
Godrej Properties ended the debut day at Rs 534, which is a premium of 9% to its issue price of Rs 490.
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The stock touched a high of Rs 586 and a low of Rs 500 during the day.
A total of 52,60,628 shares were traded on Day 1.
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Godrej Properties lists at Rs 510 on the BSE as against the issue price of Rs 490.
The stock touched a high of Rs 578, and is now trading at Rs 567 on the BSE - a hefty premium of 15.7% to the issue price.
The company"s IPO was subscribed 4 times the issue size, and the issue price was set at the lower end of the trading band.
Although the retail portion was under-subscribed, the overall the IPO received bids for 30.95 million shares as against the offer of 7.73 million shares.