Piping Solutions Provider Shares of D Development Engineers Limited (DDEL) were listed on the market on Wednesday with a jump of 67 percent against the issue price of Rs 203. The stock was listed on the BSE at Rs 325, up 60 percent from the issue price. Later it jumped 80.14 percent to Rs 365.70. On the NSE, it started trading at Rs 339, up 66.99 percent. The market valuation of the company was Rs 2,246.33 crore.
The IPO received 99.56% subscription
D Development Engineers Limited’s initial public offering (IPO) received 99.56 times subscription on the last day of issue last Friday. The company’s Rs 418 crore IPO included new shares of Rs 325 crore and a sale offer of 45.82 lakh equity shares. The price range for the issue was Rs 193-203 per share. D Development is an engineering company. It provides specialized process piping solutions for oil and gas, power (including nuclear), chemical and other processing industries through engineering, procurement and manufacturing.
Acme Fintrade shares listed with 6% gain
The stock of non-banking financial company Acme Fintrade (India) Limited was listed in the market on Wednesday with a gain of about six percent against the issue price of Rs 120. The stock was listed on BSE at Rs 125.70, up 4.75 percent from the issue price. Later it climbed 9.95 percent to Rs 131.95. On NSE, the company’s stock debuted at Rs 127 with a gain of 5.83 percent. The market valuation of the company was Rs 563.10 crore. The IPO of Acme Fintrade (India) Limited received 55.12 times subscription on the last day of the offer last Friday. The company’s Rs 132 crore initial public offering (IPO) had a fresh offer of 1.1 crore shares. The price range for this was fixed at Rs 114-120 per share.
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