Shares of Hy-Tech Engineers made a strong debut on the stock exchanges on September 1, listing at Rs 75 on the NSE, a 41.50 per cent premium over the IPO price of Rs 53. The stock gained Rs 22 from its issue price.
Hy-Tech Engineers Shares List At 41.50% Premium At Rs 75 On NSE
Hy-Tech Engineers shares list at a 41.50 per cent premium on NSE, below the 66.04 per cent GMP indication
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On the BSE, Hy-Tech Engineers shares opened at Rs 72, marking a 35.85 per cent premium, or Rs 19, over the issue price.
The listing, however, fell short of the grey market premium (GMP) expectations. Ahead of listing, the GMP, on September 1, indicated a premium of around 66.04 per cent over the IPO price. GMP is an unofficial indicator of investor sentiment before listing and does not guarantee the actual listing price.
At the NSE listing price of Rs 75, Hy-Tech Engineers' market capitalisation stood at around Rs 711 crore, compared with about Rs 503 crore at the upper end of the IPO price band.
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