As the year comes to a close, the final leg of IPOs for the year 2024 has kicked in. Amongst many entities that just got a taste of Dalal Street, Silvassa-based Sanathan Textiles made its debut at the National Stock Exchange or NSE on Friday, December 27.
30% Premium
The company was welcomed on a healthy note, as the company was listed for the price of Rs 422.3 per share. This meant a premium of 31.56 per cent. The IPO’s issue price stood at Rs 321 per share.
The global producer of cotton yarn entered the arena with a book issue built of Rs 550.00 crore.
Despite the promising listing, the force behind the listing tapered down as the trade progressed further the surge diminished from the listing number.
NSE
Value Drops After Surge
After hitting a high of Rs 423.00, the share price quickly dropped. As the day’s trade entered the third hour, the value of the shares declined by 7.38 per cent or Rs 31.15, from its listing amount. The overall value dipped to Rs 391.15 per share.
The company’s IPO opened for offer on Thursday, December 19. The IPO closed on Monday, December 23. The IPO has a total issue size of 1,71,33,958 shares. The shares were listed on the National Stock Exchnage and the Bombay Stock Exchange.
This decline took the overall decline in premium attained to 22.46 per cent or Rs 72.10.
Indian Indices Today
When we look at the Indian market and the performance of the indices, the day is in relative green. The BSE Sensex is 291.35 points or 0.37 per cent, taking the overall value to 78,763.83 points. The NSE Nifty also increased in value. The Nifty index surged to 23,840.75.
This happened after an increase of 90.55 points or 0.38 per cent. Meanwhile, the Nifty Bank index also increased in value. The banking benchmark increased by 152.05 points or 0.30 per cent, taking the index to 51,322.75 points.
