Oriana Power made a firm debut on NSE’s Emerge platform, as its stock zoomed nearly 169% to close at Rs 317.10 a share.
The stock opened with a huge premium at Rs 302 a share, up 156% over its issue price of Rs 118 per share. After touching the day’s high of Rs 317.10, the stock pared some gains to touch a low of Rs 286.90, up 143% over its issue price. On the volume front, a total of over 27.81 lakh shares exchanged hands, while total traded value stood at Rs 88.20 crore.
Oriana Power’s public issue had witnessed an overwhelming response from across the investor categories and was oversubscribed 176.58 times collecting Rs 7,000.90 crore. The retail portion of the public offering was over-subscribed a whopping 204.03 times. For the retail portion, the company received bids for 34.27 lakh shares amounting to Rs 4,044.78 crore. The Qualified Institutional Buyers (QIB) category was over-subscribed 72.16 times, while the Non-Institutional Investors (NII) category was subscribed 251.70 times.
Marquee investors, including renowned names such as Morgan Stanley Asia (Singapore), Abbakus, Aryabhata India, Rajasthan Global, Meru Investments, and LRSD Securities participated in the company’s anchor book.
Corporate Capital Ventures Private Ltd acted as the Lead Manager for the issue, while Skyline Financial Service Private Ltd was the Registrar of the issue.
