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Endurance Tech makes splendid debut, stock surges 21 pc

Press Trust of India  |  New Delhi 

Shares of auto component maker Endurance Technologies made a remarkable debut at the bourses today, surging more than 21 per cent, over the issue price of Rs 472.

The stock opened the day at Rs 570, up 20.76 per cent over the issue price, on It later touched the day's high at Rs 618, reflecting a sharp gain of 30.93 per cent.

On NSE, shares of the company listed at Rs 572, surging 21.18 per cent from the issue price.

The company commands a market valuation of Rs 8,645.14 crore.

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 with manufacturing facilities in and Germany.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, October 19 2016. 13:23 IST