Shares of Bulkcorp International had a strong launch on the Indian stock market on Tuesday, August 6, largely following the trends seen in the grey market during the past several days.
The NSE listed Bulkcorp International shares at a 24 per cent premium, or ₹130 per share, over their issue price of ₹105. The stock increased by 30% to reach ₹136.50, continuing its upward trend. The stock was trading at ₹133.15 per share at 10:50 am.
Bulkcorp International’s initial public offering (IPO) saw a strong subscriber of around 265 times.
Compared to the 1,316,400 shares provided, the issue got an overall bet of 34,87,11,600 shares, according to media reports. The retail segment saw a 362.17 times subscription, with bids for 23,85,99,600 shares and 658,800 offered. The segment reserved for non-institutional buyers received 251.39 subscriptions, while the qualifying institutional buyer segment received 104.42 subscriptions.
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