The Equity Shares of Inventure Growth and Securities Limited, which were priced at Rs.117/- per share in the recently concluded IPO of the company, witnessed crazy movements in its prices on the listing day.
The share opened above its Issue Price at Rs.119.00 on the BSE and continued to hover in the Rs.100 to Rs.130 range till about initial 4 hours of the trade, before getting volatile. The stock touched Rs.91.55 as an Intra-day low and then continued upward spike to reach Rs.225 as Intra-day high level, before closing at Rs.207.95 on the BSE
For a company that has an After-tax profit of Rs.5.5 crore in FY 2011, such kind of market price is interesting to note. Given the wild spike in the share at the close of the day and the volatilty of recent IPOs upon listing, it would be interesting to see whether these levels of price will be maintained for long or not
Share this post on: Facebook or
Email this post to a Friend: Inventure Growth closes at a stunning premium on Listing Day