Jindal Supreme shares surge 31% in market debut
Jindal Supreme market valuation at ₹653.05 crore
Jindal Supreme (India) Ltd, a plastic piping manufacturer, saw its shares surge 31% on the market debut, trading at ₹121.90, a 31% premium over the issue price of ₹93. The company's valuation reached ₹653.05 crore. The IPO, priced between ₹88-93 per share, witnessed an overwhelming 181.07 times subscription, with strong investor interest.
The company raised ₹100 crore through a fresh issue of 1.07 crore equity shares and an Offer-for-Sale by promoter VVJ Enterprise Pvt Ltd, which will be used to settle debt and for general corporate purposes.
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