Chavda Infra Ltd enjoyed a strong debut on the NSE, with its shares listed at Rs 91, marking a remarkable 33% premium.
Subsequently, the stock’s price briefly reached an all-time high of Rs 92.
Worth noting, the initial price range for Chavda Infra Limited’s IPO was set at Rs 60 to Rs 65 per share.
Profit Booking Dampens Enthusiasm
Despite the initial excitement, Chavda Infra Ltd soon experienced profit booking.
Investors who had benefited from the IPO rushed to sell their shares, causing the stock to hit a lower circuit of 5%, dropping to Rs 86.45 on the NSE.
Astounding 200x Subscription in 3 Days
Chavda Infra Ltd’s IPO garnered an exceptional response from investors during its three-day subscription period.
By the final day, it had achieved a staggering 180.06 times subscription, totaling 207 times over the three days.
These figures had sparked expectations of a sensational stock market debut