Tarsons Products IPO - Listing Day Performance
Tarsons Products had a flat to positive listing on 26th November, listing at a premium of 3.02%. While the stock did open on a flat to positive note, the price picked up rapidly after that to close the day at the 20% upper circuit limit of Rs.818.40.
The closing price was sharply higher than the IPO price and also the listing price. With overall subscription of 77.49X and robust trading interest in GMP market, the listing was expected to be strong. Here is the Tarsons Products listing story on 26-Nov.
Check - Grey Market Premium of Tarsons Products Ltd IPO
The IPO price was fixed at the upper end of the band at Rs.662 considering the 77.49X subscription. The price band for the IPO was Rs.635 to Rs.662.
On 26th Nov, the stock of Tarsons Products listed on the NSE at a price of Rs.682, a premium of 3.02% above the issue price of Rs.662. On the BSE also, the stock listed at Rs.700 a premium of 5.74% on the IPO issue price.
On the NSE, Tarsons Products IPO closed on 26-Nov at a price of Rs818.40, a first day closing premium of 23.63% on the issue price. On the BSE, the stock closed at Rs.840, a first day closing premium of 26.89% on the IPO issue price.
On both the stock exchanges, the stock of Tarsons Products listed marginally above the IPO issue price but closed Day-1 at the maximum available leeway of 20% upper circuit from the open price.
On Day-1 of listing, Tarsons Products touched a high of Rs.818.40 on the NSE and a low of Rs.680. The high price or the upper circuit price was also the closing price.
On Day-1 of listing, the Tarsons Products stock traded a total of 134.12 lakh shares on NSE amounting to value of Rs.1,025.28 crore.
On 26-Nov, Tarsons Products was the 15th most active share on NSE by traded value. It did not rank among the top stocks on the NSE by trading volumes (number of shares traded).
On the BSE, Tarsons Products touched a high of Rs.840 and a low of Rs.634. On BSE, the stock traded a total of 26.30 lakh shares amounting to value of Rs.211.33 crore. It was the second most active share on the BSE in terms of trading value.
At the close of Day-1 of listing, Tarsons Products had a market capitalization of Rs.4,469.33 crore with free-float market cap of Rs.893.87 crore.
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