Oriana Power makes stellar debut on stock exchange
Oriana Power’s IPO has been listed in the stock market. With the listing, this IPO has doubled the investors’ money. It got listed on the NSE SME exchange at ₹302 per share. This is over 155 per cent higher than the price band of the IPO. Explain that the price band of the IPO was ₹115 to ₹118 per equity share. Thus, investors’ money has more than doubled on the day of listing itself.
Oriana Power share price opened at ₹302 per share and touched an intraday high of ₹317.10 per share on NSE SME exchange. However, profit-booking soon started and it slipped to its intraday low of ₹286.90.
Oriana Power IPO was opened for bidding from August 1 to August 3, 2023. Its one lot consisted of 1200 shares. The minimum investment by a retail investor in this SME IPO was ₹1,41,600 (₹118 x 1200). The issue was proposed for listing on the NSE SME Exchange. Oriana Power had offered 5,055,600 shares for listing on the above exchanges, of which 1,440,000 shares (28.48 per cent) were reserved for anchor investors.
