NSDL shares jump 6% after decent listing; M&B Engineering, Sri Lotus Developers rally up to 10%

The shares of National Securities Depository (NSDL) jumped more than 6 percent on August 6, hours after making a decent listing on the stock markets. The shares of Sri Lotus Developers and M&B Engineering also recorded notable gains.

The three shares made their much-anticipated debuts on stock markets today.

NSDL share price:

National Securities Depository Ltd (NSDL) shares jumped more than 6 percent to close at Rs 936 per share. This marks a 17 percent increase from the IPO price of Rs 800 per share. The shares had listed with a premium of 10 percent over the IPO price at Rs 880 apiece.

The listing premium was lower than grey market estimates. Ahead of listing, the unlisted shares of the company were trading with a grey market premium of nearly 16 percent over the IPO price. According to analysts, investors should consider holding the stock for the long term, given NSDL’s strong fundamentals and leadership in the depository segment.

Sri Lotus Developers share price:

Sri Lotus Developers shares jumped 10 percent to remain locked in the upper circuit at Rs 195.80 per share. The stock is currently over 30 percent higher than its IPO price of Rs 150 per share.

The shares of the Mumbai-based luxury real estate developer debuted at Rs 179 apiece, marking a premium of 19 percent over the IPO price. This came after the Rs 792-crore IPO garnered a strong 69 times subscription during its three days of public bidding.

The listing premium was more or less at par with grey market estimates. Ahead of listing, the unlisted shares of the company were trading with a grey market premium (GMP) of nearly 18 percent over the IPO price.

M&B Engineering share price:

After listing flat at IPO price, the shares, M&B Engineering shares gained more than 5 percent to close at Rs 405.25 apiece.

The listing marked a significant diversion from the grey market estimates. Ahead of listing, the unlisted shares of the company were trading with more than 14 percent GMP over IPO price.

Also read: Our LIVE blog on stock market updates

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.