Mumbai: Seagull India Limited Listed on BSE and NSE
August 10, 2024, 7:42 PM
Shares of infrastructure construction company Seagull India Limited commenced trading on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) today. Despite a premium of 4.4% on the NSE, shares opened at Rs 413 on the BSE and at Rs 419 on the NSE. The company offered one share with a face value of Rs 5 at Rs 401.
Market Performance
The stock opened at Rs 413 on the BSE and quickly climbed to Rs 425. However, its value soon started to decline, dipping to Rs 406.05 at one point. By 10:20 am, shares were trading at Rs 410.
Initial Public Offering (IPO)
The Ceigall India IPO opened for bidding on August 1 and closed on August 5. The company priced its IPO between Rs 380 and Rs 401 per share. The IPO was oversubscribed by 13.78 times, receiving bids for 30.74 crore shares against the 2.23 crore shares on offer.