The IPO of SME company Rudra Gas Enterprise has been listed on the stock market today on February 15. Shares of Rudra Gas Enterprises listed on BSE at Rs 119.70 with a premium of 90 per cent. The issue price of the company's shares was fixed at Rs 63 per share. The Rudra Gas Enterprise IPO was met with overwhelming response from investors. This IPO of the gas company was subscribed 350.75 times in three days. In this, non-institutional investors subscribed 286.62 times the quota and retail investors subscribed 404.38 times the quota.
Rudra Gas Enterprise's IPO opened for subscription on Thursday February 8 and closed on Monday February 12. The price band of the Rudra Gas Enterprise IPO was fixed at 63 per share. The lot size of Rudra Gas Enterprises IPO was 2,000 shares. The company's shares were allotted on Tuesday, February 13.
Information about the company
According to the Red Herring Prospectus (RHP) the company is involved in several infrastructure related activities. The company's primary business activities include fiber cable networks, gas distribution network projects and construction equipment. The company provides comprehensive solutions to the municipal gas distribution industry. The firm mainly deals in civil works, pipeline construction, pipeline network operation and maintenance for city gas distribution. Manjulaben Sureshbhai Patel, Kush Sureshbhai Patel and Kashyap Sureshbhai Patel are the promoters of the company. Rudra Gas Enterprise involves a fresh issue of 22,48,000 equity shares for a total of Rs 14.16 crore.
(Note - This contains information about share performance. This is not an investment advice. Before making any kind of investment, it is necessary to consult a knowledgeable or expert in this field.)