IPO Listing Day Update: Bajaj Housing Finance lists at 114% premium; six other IPOs debut; check list

Seven IPOs, including the mainboard issues of Bajaj Housing Finance Ltd and Kross Ltd, made their market debut on Monday, September 16. Three mainboard issues are listed on both the BSE and NSE. The other four are SME IPOs, which started trading on the respective SME platforms of the main bourses.

Among mainboard IPOs, Bajaj Housing Finance Ltd made a stellar debut doubling investors’ wealth at listing while two others - Kross Ltd and Tolins Tyres Limited failed to impress investors and listed almost flat.

Here is the summary of what happened on the opening day of these seven IPOs and how much IPO investors gained:

Bajaj Housing Finance makes stellar debut

Bajaj Housing Finance Ltd made a bumper debut on stock exchanges with its shares listing at a premium of 114% over the issue price.

The company started trading at ₹150 per share on NSE, reflecting gains of 114% over the issue price of ₹70 per share. The stock later hit a high of ₹161 per share on heavy buying by investors.

More than 38 crore shares of the company changed hands on the NSE.

Shares pared some of the gains and dropped 2% below the listing price to ₹146 in early trade. The stock later recovered some ground and was trading at ₹163.7 per share, up 9.17% from the listing price at 11:15 AM.

As the minimum bid quantity to apply for the Bajaj Housing Finance IPO was 214 shares, successful bidders who were allotted shares would have been sitting on listing gains of at least ₹17,120 (₹80 x 214) as soon as the stock started trading on the NSE.

On the BSE, the stock made a debut at ₹150 per share. The Bajaj Group stock moved between a high of ₹160.92 and ₹147 in early deals. More than 4 crore shares traded on BSE. The market valuation stood at ₹1,32,001.13 crore against ₹58,297 crore at the issue price

Kross Limited IPO makes flat listing

Auto components maker Kross Ltd made a listless debut on stock exchanges with shares listing flat at ₹240 per share.

The company started trading at ₹240 per share on the NSE, same as the issue price. The stock later picked up some momentum and hit a high of ₹265.99 per share on NSE.

The stock hit a low of ₹231.96 per share before trading 9.33% higher at ₹262.39 at 10.45 AM. More than 1.33 crore shares changed hands on NSE. The market valuation stood at ₹1,690.15 crore against ₹1548.22 crore at the issue price.

The stock listed flat at ₹240 per share on the BSE as well. At 10.45 AM, shares were trading 7.33% higher at ₹257.55.

Tolins Tyres IPO lists at ₹228 per share

Tolins Tyres shares listed almost flat at ₹228 per share on NSE against the issue price of ₹226 per share. The stock started trading at ₹227 per share on BSE.

Tolins Tyres Ltd shares were trading higher by 5% at ₹239.40 per share on NSE at 11:00 AM. The market valuation was ₹945.84 crore against ₹892.89 crore at the issue price.

Aditya Ultra Steel IPO lists at 12% premium

TMT bars manufacturer Aditya Ultra Steel Ltd made its market debut at a premium of 12% on the NSE SME platform.

The stock listed at ₹69.9 per share against the issue price of ₹62 apiece.

The company's shares later declined by 5% to hit the lower circuit at ₹66.40 per share, bringing the market valuation to ₹164.91 crore against ₹153.98 crore at the issue price.

Shubhshree Biofuels IPO makes strong debut

Shubhshree Biofuels Energy Ltd. made a bumper debut on the NSE SME platform, with shares listing at a premium of 58% over the issue price.

The stock started trading at ₹189 per share against the issue price of ₹119 per share. In morning deals, shares of the company gained 5% from the listing price to hit the upper circuit at ₹198.45.

The market capitalisation increased to ₹104.03 crore against ₹62.37 crore at the issue price, making investors richer.

Gajanand International shares fall 5% after listing

Gajanand International Limited shares listed at a premium of 16% over the issue price on NSE SME platform.

The stock started trading at ₹42 per share against the issue price of ₹36 per share.

The stock hit a high of ₹43 before declining 5% from the listing price to hit the lower circuit at ₹39.9 apiece. The company’s market capitalisation stood at ₹75.15 crore against ₹67.80 at the issue price.

Share Samadhan IPO lists at 1% discount

Share Samadhan Ltd.'s debut on the BSE SME platform was tepid. The shares are listed at a discount of over 1% compared to the issue price.

Share Samadhan started trading at ₹73.05 per share against the issue price of ₹74 per share on the BSE SME platform. The stock declined 5% from the listing price in early trade to hit the lower circuit at ₹69.40.

At 11 AM, the stock recovered some ground to trade 1.44% higher at ₹74.1 per share, taking its market valuation to ₹90.92 crore against ₹90.79 crore at the issue price.