At 10:05 am, the stock was trading at Rs 591, after hitting a high of Rs 592 on the NSE post its listing. It opened at Rs 570 on BSE. A combined 11.37 million shares changed hands on the counter so far.
Automotive parts maker Endurance Technologies had raised Rs 1,162 crore through initial public offering (IPO), which was oversubscribed 43.84 times. The company fixed the issue price at Rs 472 per share, at the upper end of the Rs 467-472 per share price band.
The qualified institutional buyers' (QIBs) portion oversubscribed 53.43 times, non institutional investors chunk 127 times and retail investor’s portion 2.70 times. There were 752 million bids, worth Rs 35,000 crore, against the 17.2 million shares on offer, according to data available with the BSE.
Endurance was established in 1985 and specialises in manufacture of aluminium die casting products. The company derives a little more than 40% of revenue from this vertical. Other key business segments are manufacturing of suspension, transmission and braking products.