Mundra Port debuts with 75% premium; hits high of Rs 1150

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Source : moneycontrol

Mundra Port and Special Economic Zone, India’s largest non-government cargo terminal, has listed at Rs 770, a premium of 75% over its offer price of Rs 440 and touched a high of Rs 1150 on the BSE.

The stock was up 117.77% at Rs 958.20. It traded with volumes of 68,48,640 shares. The turnover was at Rs 667 crore on the NSE at 10:21 am.

On the BSE, it was quoting at Rs 957, with volumes of 32,11,210 shares. It has touched a high of Rs 1150.

The company had entered capital market with an IPO of 40.25 million shares and got subscribed 115.84 times. The company raised Rs 1771 crore from the market.

The Adani Group, founder of Mundra Port, has interests in commodities trading, coal mining, power generation, real estate development and agriculture processing.

Source : moneycontrol

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