Dixon Technologies' shares trade 64% higher on stock market debut

Shares of consumer electronics manufacturer Dixon Technologies on Monday made a spectacular debut on the bourses and ended the day with a sharp gain of nearly 64 per cent against the issue price of Rs 1,766.

After listing at Rs 2,725, a huge jump of 54.3 per cent from the issue price on BSE, the stock finally settled at Rs 2,892.80, up 63.80 per cent. During the day, it soared 71 per cent to Rs 3,020.25.

At NSE, shares of the company jumped 63.73 per cent to end at Rs 2,891.55.

The company commands a market valuation of Rs 3,276.12 crore.

On the equity volume front, 9.71 lakh shares of the company were traded on BSE and over 60 lakh shares changed hands at NSE during the day.

Dixon Technologies' Rs 600 crore IPO was oversubscribed 117.83 times during September 6-8.

The portion reserved for qualified institutional buyers (QIBs) was oversubscribed 134.66 times, non-institutional investors - 345.61 times and retail individual investors - 10.60 times.

The company had fixed the price band at Rs 1,760-1,766.