S P Apparels shares jump 10 pc on debut trade

Shares of garment maker S P Apparels made a robust debut at the bourses today and ended with 10 per cent gains over the issue price of Rs 268.
After listing at Rs 305, a gain of 13.8 per cent over the issue price on BSE, shares of the company finally ended at Rs 295, up 10 per cent.
On NSE, shares of the company settled 7.74 per cent higher at Rs 288.75.
The company commands a market valuation of Rs 742.44 crore.
S P Apparels' IPO was oversubscribed nearly three times during August 2-4.
The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 2.21 times, while non institutional investors 5.10 times, as per NSE data.

Retail investors portion was oversubscribed 1.90 times.

Price band for the IPO was fixed at Rs 258-268 per share.
The book running lead managers were Motilal Oswal Investment Advisors and Centrum Capital.
This was the 16th IPO to have hit the market so far this year.
S P Apparels is a manufacturer and exporter of knitted garments for infants and children.
In 2015-16, the company exported around 35.98 million pieces of knitted garments for infants and children directly to international customers, including Tesco and Primark.