Strong Listing: IndiaMART InterMESH debuts at 21% premium at Rs 1,180

July 04
15:33 2019

IndiaMART InterMESH, an online marketplace for business products and services, saw a strong listing on July 4. Hefty subscription and positive market mood supported the stock price.

The stock opened at Rs 1,180 on the National Stock Exchange, rising 21.2 percent over the final issue price of Rs 973.

It was trading at Rs 1,221.50 on the BSE, up 25.54 percent while it was quoting at Rs 1,215.50 on the National Stock Exchange, up 24.92 percent at 10:00:45 hours IST.

On volume front, IndiaMART traded with 1.25 lakh shares on the BSE and 12.7 lakh shares on NSE.

The Rs 475-crore issue was subscribed 36.16 times during the IPO period June 24-26.

The IPO was for 48,87,862 equity shares, including anchor portion of 21,95,038 equity shares. It was offered at a price band of Rs 970-973 per share.

India Union Budget 2019: What does Finance Minister Nirmala Sitharaman have up her sleeve? Click here for top and latest Budget news, views and analyses.

Related Articles