Shares of integrated wind energy firm Inox Wind made a strong debut on bourses today, surging over 37 per cent in afternoon trade, against the issue price of Rs 325 per share.
The stock debuted at Rs 400, reflecting a sharp gain of 23 per cent over the issue price, on the BSE.
At the NSE also, the stock opened at Rs 400.
The stock had hit Rs 447 at day's high, a gain of 37 per cent. At 2:13 p.m., it was trading 32 per cent higher at Rs 432.
Inox Wind's shares were later trading at Rs 416.20 per scrip during afternoon trade on the BSE.
The company's Rs 700 crore initial public offer, which ended on March 20, was subscribed over 18 times.
Inox Wind's public issue is the biggest IPO since June 2013, when Just Dial had launched its public offer to raise Rs 916 crore.
The price band for the integrated wind energy firm's initial share sale was Rs 315-325 apiece.
The company had allocated shares worth Rs 306 crore to anchor investors, taking the total issue size to over Rs 1,000 crore.