On Thursday shares of water and sewerage infra solutions player EMS Ltd listed with a premium of nearly 34 per cent against the issue price of Rs 211.
The stock started trading on the BSE at Rs 281.55, a jump of 33.43 per cent. Later, it increased by 36.82% to Rs 288.70.
At the NSE, it started the trade at Rs 282.05, up 33.67 per cent.
The company commanded a market valuation of Rs 1,522.10 crore in early trade.
On the final day of the subscription on September 12, with heavy participation from institutional buyers. The IPO of EMS Ltd was subscribed 75.28 times.
The price range for the offer was Rs 200-211 per share.
The IPO had a fresh issue of up to Rs 146.24 crore and an offer-for-sale (OFS) of up to 82,94,118 equity shares.
The company offers water and sewerage infra solutions, including laying the sewerage network to build treatment plants in Uttar Pradesh, Bihar, Uttarakhand and Rajasthan.