Shares of auto component maker Endurance Technologies made a stunning debut on the bourses today, surging more than 37 per cent over the issue price of Rs 472.
The stock ended the day with a sharp gain of 37.22 per cent at Rs 647.70 on BSE. Earlier in the day, it listed at Rs 570, up 20.76 per cent. In intra-day trade, the stock zoomed 38.77 per cent to Rs 655.
At NSE, shares of the company soared 37 per cent to close at Rs 646.90.
The company commands a market valuation of Rs 9,110.73 crore.
The stellar listing comes after Endurance Technologies' initial public offering was oversubscribed nearly 44 times earlier this month.
The company had fixed the price band at Rs 467-472 per share for the offer.
The company manufactures two-wheeler and three-wheeler automotive components. It also has operations in Europe with manufacturing facilities in Italy and Germany.
In terms of smart listings this year, shares of staffing firm Quess Corp made a spectacular debut at the bourses, with 59 per cent gain, while Mahanagar Gas was also off to a robust start with the stock rising nearly 24 per cent in its debut trade.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)