Rudra Gas Enterprise IPO: Today, on February 15th, the Rudra Gas Enterprise company’s IPO can be traded in the stock market.
The company’s shares started trading at Rs 119.70 on the BSE, which is a 90% increase from its original price of Rs 63 per share.
The IPO received a huge response from investors, being subscribed 350.75 times in just three days, with non-institutional investors subscribing 286.62 times and retail investors subscribing 404.38 times.
When did the IPO start?
The Rudra Gas Enterprise IPO was open for subscription from Thursday, February 8th, to Monday, February 12th.
The price for each share was set at ₹63, and investors had to buy in lots of 2,000 shares. The shares were allocated to investors on Tuesday, February 13th.
About the Company
According to the Red Herring Prospectus (RHP), Rudra Gas Enterprise is involved in various infrastructure activities including fiber cable networks, gas distribution projects, and renting construction equipment and vehicles.
The company offers solutions for municipal gas distributors, specializing in civil works, pipeline construction, and maintenance for city gas distribution.
The promoters of the company are Manjulaben Sureshbhai Patel, Kush Sureshbhai Patel, and Kashyap Sureshbhai Patel.
The IPO consisted of a fresh issue of 22,48,000 equity shares, amounting to ₹14.16 crore, without including any offer for sale (OFS).
