Shares of Kanohar Electricals surged as much as 15% to an intraday high of Rs 863 on the BSE on Thursday, extending their gains for a second straight session. The stock has now rallied 36% from its issue price of Rs 632 after making its market debut on Wednesday.
Kanohar Electricals listed at an 8% premium to its issue price on Wednesday, before strong buying interest drove the stock as much as 19% higher during the session. The Rs 1,055.74 crore IPO was subscribed 90.59 times overall, with the retail portion receiving bids for 20.51 times the shares on offer. The NII category was subscribed 87.74 times, while the QIB portion saw a staggering 215.37 times subscription.
