The Apeejay Surrendra Park company recently started selling its shares to the public for the first time.
It was a big success when they began selling them on the stock market. They started at Rs 187 per share, which was more than what they initially thought.
People were excited to buy because the price was higher than expected.
But after a while, the excitement faded, and some people decided to sell their shares to make some money.
This caused the price to drop by 7%. Some people were disappointed because they were hoping to make more money.
The company wanted regular people to invest too, so they made small bundles of shares that people could buy.
Each bundle had 96 shares, and to buy one, you had to spend at least Rs 14,880. But you could only buy a maximum of 1248 shares.
The company also gave its employees a discount of Rs 7 for each share they bought, which was nice.
Overall, the company raised Rs 920 crore by selling shares to the public. Rs 600 crore of that money will be used for the company’s projects,
and the rest will go to the people who already owned shares and wanted to sell them.
A lot of people wanted to buy shares in this company. When they started selling them, more than 70 times as many people wanted to buy them as there were shares available.
This meant that if you wanted to buy shares, you had to wait in line because so many other people wanted them too.
The sale lasted for three days, from February 5th to February 7th. On the first day, people wanted to buy 62.91 times as many shares as there were available.
On the second day, they wanted to buy 32 times as many shares. And by the end of the sale, they wanted to buy 79.29 times as many shares.
Even before the sale started, people were predicting that the company would do well on the stock market.
They could tell because in the “gray market,” where people buy and sell shares before they officially go on sale, the price was going up.
This made people think that the price would keep going up even after the sale ended.
