The share price of Shankara Building Products Ltd listed on exchanges at a premium of 18.48% at Rs 545. The share price of Shankara Building was trading at Rs 575 with a gain of 25% on an intraday basis. The company’s IPO has acquired about Rs 350 crore. The price band of the offer was at Rs 440 to 460 share apiece. The issue comprises fresh issue of shares valued Rs 45.00 crore, and an OFS of little over 65.00 lakh shares. The IPO was over-subscribed 41.6 times during the bidding time of March 22 to 24. The company’s public issue for qualified institutional buyers category and Retail Investors category were oversubscribed, respectively by 90.68 and 15.35 times.
The company operates 103 stores, widespread across 9 states and 1 Union territory, which is providing customized solutions in the retail of home development and building products in India.