Alkem Laboratories and Dr Lal PathLabs had a sizzling debut as their stocks prices listed at 31 per cent premium over their issue price of ₹1,050 and ₹550, respectively.
The stocks closed with a gain of 31.5 per cent and 51.7 per cent, respectively.
Alkem Labs, which listed at ₹1,380 on the BSE, ended at ₹1,381.45. During the intra-day, the stock surged 34.28 per cent to ₹1,410.
Similarly, after listing at ₹717, shares of Dr Lal PathLabs ended at ₹824.15. During the day, it zoomed 53.16 per cent to ₹842.40 on the BSE.
Broader markets help The reason for the strong debut is partly due to overwhelming response and rebound in the broader market.
While Alkem’s issue was subscribed by 43 times, Dr Lal Path was subscribed by 33.4 times.