Affle India shares mark remarkable debut, closes with 17.5% premium
Shares of mobile marketing company Affle India, on August 8, zoomed nearly 17.5 percent in its debut trade against the issue price of Rs 745.
The scrip made a robust debut as it opened the day at Rs 929.90, a huge gain of 24.81 percent from its issue price on the BSE.
During the day, it rallied 28.63 percent to Rs 958.30. It finally closed 17.46 percent higher at Rs 875.10.
On the NSE, shares jumped 15.16 percent to close at Rs 858.
In terms of the traded volume, 8.62 lakh shares were traded on the BSE and over 83 lakh units on the NSE during the day.
The company’s market valuation was at Rs 2,231.19 crore on the BSE.
The Rs 459-crore initial public offer of Affle India was a huge hit among investors as it was subscribed 86.49 times last week.
Price range for the offer was fixed at Rs 740-745 per share.
ICICI Securities and Nomura Financial Advisory and Securities (India) Pvt Ltd were the managers to the offer.IPOSubscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months at 289. Use code FREEDOM.