New Delhi, Sep 18 (PTI) Shares of real estate developer Veegaland Developers Ltd on Friday ended at a 4.5 per cent premium against the issue price of Rs 140.
The stock started trading at Rs 151, up 7.85 per cent from the issue price on the BSE. It finally ended at Rs 144.95, higher by 3.53 per cent.
At the NSE, the stock made its debut at Rs 154, registering a jump of 10 per cent. It ended at Rs 146.30, up 4.5 per cent.
The company’s market valuation stood at Rs 706.63 crore.
The initial public offering of Veegaland Developers Ltd received 13.55 times subscription on the final day of bidding on Tuesday.
The IPO had a price band of Rs 130-140 per share. The initial public offering was a fresh issue of up to 1.50 crore equity shares aggregating to Rs 210
crore, with no offer for sale (OFS) component.
Veegaland Developers Ltd had raised Rs 63 crore from anchor investors.
Proceeds from the issue will be used to partly fund the company’s ongoing projects, for unidentified land acquisition, and general corporate purposes. PTI SUM SUM MR
