Mumbai: Shares of Hero Motors Ltd, an automotive technology company, made their stock market debut at Rs 82.10 on Wednesday and rose to a high of Rs 98.51 on the BSE.
On the NSE, the stock touched a high of Rs 98.40 during the trading session.
The company, which designs, develops, manufactures and supplies engineered powertrain solutions to automotive original equipment manufacturers (OEMs) across the US, Europe, India and the ASEAN region, had launched its nearly Rs 1,000-crore initial public offering (IPO) for subscription from September 16 to September 18.
According to the NSE, a total of 1,398.43 lakh shares were traded during the day, while 171.66 lakh shares changed hands on the BSE.
The total turnover of the company’s shares on the BSE and NSE stood at Rs 1,435.5 crore on the first day of trading.
At Wednesday’s closing price, Hero Motors’ market capitalisation stood at Rs 4,474.48 crore on the BSE and Rs 4,469.48 crore on the NSE.
The IPO was subscribed 6.66 times, receiving bids for 58,97,26,638 shares against 8,86,07,596 shares offered, according to the data.
The portion reserved for non-institutional investors (NIIs) was subscribed 9.86 times, while the retail investors’ portion received 8.23 times subscription. The qualified institutional buyers’ (QIBs) portion was subscribed 1.49 times.
