Sandhar Technologies Ltd was listed at a premium of 4.3% at Rs 346.10 per share compared to its issue price of Rs 332 on National Stock Exchange (NSE). Thereafter, the share price rose to as much as 5.45% to Rs 350.
On its final day of the initial public offering (IPO), it was subscribed 6.12 times. The company's Rs 512 crore public offering was open for subscription from March 19 to 21.
Sandhar Technologies, which is into designing and manufacturing automotive components, parts and systems, was subscribed 14.49 times in the portion reserved for qualified institutional buyers in its IPO. The portion for retail investors was subscribed 1.19 times. The non-institutional segment received bids for 6.44 times the number of shares allotted.