Parsvnath Developers on Thursday surged over 75 per cent on its debut trade on the Bombay Stock Exchange and closed at Rs 526.30 at the end of the trading session.
The scrips of the pure-play realty major touched a high of Rs 579 and a low of Rs 481.50 on the BSE.
Parsvnath closed the day at Rs 526.40 on the National Stock Exchange. It touched a high of Rs 575.65 and a low of Rs 456.70 on NSE.
Earlier in the day the shares of the real estate major got listed at Rs 540 on the BSE with a premium of 80 per cent over its issue price of Rs 300.
The company on Thursday listed a total of 18.16 crore (181.6 million) equity shares on both the bourses. The scrips of Parsvnath got listed at Rs 456.70 on NSE.
The Rs 1,000 crore (Rs 10 billion) initial public offer of the company received robust response from investors and was oversubscribed 60 times.
The issue, also saw an overwhelming response in the qualified institutional buyers portion, especially from foreign institutional investors.
The funds raised from this public offer would be deployed in various ongoing projects across the country.
