Swastika Infra shares hit upper circuit post market debut at 8% premium

New business data points to the fact that Shares of Swastika Infra hit the 5 percent upper circuit limit on Wednesday, after making a decent market debut at an 8 percent premium over its offering price.

The stock was quoted at Rs 210 per share on the NSE, hitting the 5 percent upper circuit, its highest permissible trading limit for the session.

Swastika Infra shares were listed at Rs 200 per share on the NSE, a premium of 8.10 percent over the offering price. The Rs 161 crore initial public offering (IPO) had a price range of Rs 175-185 per share.

The offering was subscribed 7.6 times during the bidding period from September 23-25.

On the BSE, the shares were additionally listed at Rs 200 per share, a premium of around 8 percent over the IPO price.

The firm's market capitalisation stood at Rs 716.35 crore post stock-exchange debut.

The market debut of Swastika Infra was better than expectations, with traders at large anticipating a stock-exchange debut gain of around 3 percent in grey market.