Simplex Projects debuts at Rs 323.75

MUMBAI: Simplex Projects listed on the stock exchanges with a 75% premium at Rs 323.75 as against its issue price of Rs 185 per share.

However, the scrip was not able to hold onto gains and slipped below Rs 300 mark. At 9:59 AM, the stock was at Rs 296 with volume traded at 7,12,943 shares on the BSE. On NSE, the stock was at Rs 275.30 with volume of 23,73,950 shares.

The company’s IPO received an overwhelming response. As per the NSE website, the issue was subscribed 85.53 times. It received bids for 25.65 crore shares including 5.04 crore shares at cut off price.

Read more in The Economic Times