• Source:JND
Add as a preferred

The shares of Sanathan Textiles Ltd and Concord Enviro Systems Ltd, made decent debuts on the stock exchanges on Friday, delivering significant premiums over their issue prices. Sanathan Textiles surged over 31% on both the BSE and NSE, reflecting strong investor confidence following its heavily oversubscribed IPO. Meanwhile, Concord Enviro Systems jumped nearly 19% on the first trading day due to the strong demand for its shares. Both companies exhibited strong performances in the marketplace, indicating that good-quality IPOs are still very much in demand by investors. 

Sanathan Textiles surges 31%

Sanathan Textiles Ltd, one of the largest yarn manufacturers, opened at Rs 419.10 on the BSE, up 30.56% from its issue price of Rs 321. It rose to Rs 422.30 on the NSE, representing a premium of 31.55%. Later, the shares rose to Rs 422.65 on the BSE, taking the company’s market cap to Rs 3,346.20 crore.

The IPO, valued at Rs 550 crore, was well received by investors with a subscription ratio of 35.12 times. The IPO included a fresh issue of Rs 400 crore equity shares and OFS of Rs 150 crore by promoters and promoter group companies.

The IPO was priced in the range of ₹305-321 per share. A strong listing is a fair reflection of the strong demand for textile sector stocks based on Sanadhan's sound business fundamentals.

Also Read: DAM Capital IPO Listing: Shares List At 39% Premium On NSE

Concord Enviro Systems rises nearly 19%

Concord Enviro Systems Ltd, a major provider of wastewater treatment and renewable energy solutions, is listed on the BSE at Rs 832, an 18.68% premium over its issue price of Rs 701. Reflecting the 21.18% increase, the stock rose further to Rs 849.50. It opened at Rs 826 on the NSE, up 17.83% from the issue price.

The company is currently valued at Rs 1,764.97 crore. Concord's Rs 500 crore public offer was subscribed 10.67 times on its last day. The IPO includes a fresh issue of equity shares for Rs 175 crore and an OFS of 46.41 lakh shares at Rs 325.33 crore, at a premium of Rs 701 per share.

Also Read: Mamata Machinery Shares Make Stellar Debut At 147% Premium Over IPO Price