Stocks

Endurance Technologies surges 21% over issue price

PTI New Delhi | Updated on January 16, 2018 Published on October 19, 2016

Shares of auto component maker Endurance Technologies made a remarkable debut on the bourses today, surging more than 21 per cent, over the issue price of Rs 472.

The stock opened the day at Rs 570, up 20.76 per cent over the issue price, on the BSE. It later touched the day’s high of Rs 618, reflecting a sharp gain of 30.93 per cent.

On the NSE, shares of the company got listed at Rs 572, surging 21.18 per cent from the issue price.

The company commands a market valuation of Rs 8,645.14 crore.

Endurance Technologies’ initial public offering was oversubscribed nearly 44 times earlier this month.

The company had fixed the price band at Rs 467-472 per share for the IPO.

The company manufactures two-wheeler and three-wheeler automotive components. It also has operations in Europe with manufacturing facilities in Italy and Germany.

Published on October 19, 2016
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