New listings, big gains: JNK India, Shivam Chemicals, Varyaa Creations, and Emmforce Autotech shine on market debut
Upstox
2 min read • Updated: April 30, 2024, 7:31 PM
Summary
Shares of JNK India, Shivam Chemicals, Varyaa Creations and Emmforce Autotech made a strong debut on the bourse and ended with solid gains on Tuesday even as market benchmarks SENSEX and NIFTY closed lower.
Shares of JNK India, Shivam Chemicals, Varyaa Creations and Emmforce Autotech made a strong debut on the stock exchanges on Tuesday, April 30. All four initial public offers listed at significant premiums and ended the day with solid gains compared to their respective issue price.
The three BSE SME stocks and one mainboard listing ended the day with gains even as the broader market witnessed significant volatility and the benchmarks ended with losses.
SENSEX closed 0.25% lower at 74,482.78 while the NIFTY ended the day at 22,604.85 with a loss of 0.17%. NIFTY IT, Metal, Pharma and Oil and Gas indices ended with significant losses.
Let's take a look at how the shares of four IPO listings fared in their debut trade:
JNK India
JNK India shares made a solid debut on the bourses on April 30. JNK India shares were listed on both BSE and NSE.
Against the issue price of ₹415 apiece, shares of JNK India were listed at a premium of 49.63% at ₹621 per share on the NSE. The stock closed at ₹692 apiece, giving the investors returns up to 67% on the first day of trading itself.
On the BSE, the IPO was listed at a premium of 49.4% at ₹620 apiece and closed at ₹693.95 with a gain of 67.22% against its issue price.
Shivam Chemicals
Shares of Shivam were listed with a premium of 9.09% at ₹48 apiece on the BSE SME platform. The issue price of Shivam Chemicals IPO was ₹44 per share. The stock, however, cooled off slightly still ending the day with a gain of 7.73% at ₹47.4 apiece.
Varyaa Creations
Varyaa Creations made a stellar debut on the BSE SME, listing at a premium of 90% at ₹285 against its issue price of ₹150. Later, the stock pared some gains and closed 80.50% higher with respect to its issue price at ₹270.75 apiece.
Emmforce Autotech
Opening at a premium of 90% compared to the issue price of ₹98, shares of Emmforce Autotech made a strong debut at ₹186.2 on the BSE SME on Tuesday. The stock gained further and closed 99.5% higher at ₹195.51 apiece.