Mumbai: IT firm Infinite Computer Solutions (India) on Wednesday listed at Rs178.35 on the Bombay Stock Exchange, a premium of 8% over the issue price.
Shortly after listing, shares surged 23% to hit a high of Rs203 on BSE over issue price of Rs165 per share.
On the National Stock Exchange, the stock opened with a premium of 3% at Rs170. Later, the stock climbed 24.21% to touch a high of Rs204.95.
The company listed 4,39,59,995 shares on the bourses. A total of 32,61,363 shares of Infinite Computer Solutions changed hands on both the bourses.
Last month, the initial public offer (IPO) of the IT firm witnessed robust demand from investors and was subscribed nearly 43 times on the final day, with most of the bids coming from high net worth individuals and institutional buyers.
Infinite Computer Solutions had got a commitment of Rs28.46 crore from nine anchor investors.
The company had finalised allocation of 17.25 lakh shares to nine anchor investors at Rs165 per share - the upper price band of the IPO.