Shares of Jaipur-based Tijaria Polypipes got listed at Rs 62 apiece on the BSE today, a premium of 3.34% over their issue price of Rs 60, before surging by 13% to Rs 67.80 within minutes of opening trade.
Similar movement was witnessed on the National Stock Exchange as well, where the stock -- after getting listed at Rs 61 -- surged to an early high of Rs 67.75, up 12.91%, from its issue price.
On the volume front, over 1.26 crore shares of the company exchanged hands on the BSE and more than 1.58 crore shares got traded on the NSE by 1149 hours.
The scrip however, saw the initial gains pared in later trade and were quoting at Rs 61.65 on the BSE and NSE at 1149 hours.
The company had raised Rs 60 crore through its IPO, which was subscribed 1.2 times.
Tijaria Polypipes manufactures high grade HDPE, MDPE, LDPE, LLDPE, PVC and PPR pipes under the registered brand names of Tijaria and Vikas.
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