The MPSEZL stock listed at Rs 770 on Tuesday, a 75 per cent premium on its offer price of Rs 440. Soon after the listing, the stock went up to a high of Rs 1,150 before closing at Rs 957.
There was brisk trading at the stock's counter on both BSE and NSE, with the traded volumes crossing Rs 4,100 crore (Rs 41 billion). BSE clocked a volume of Rs 1,448 crore (Rs 14.48 billion), while NSE shares worth Rs 2,688 crore (Rs 26.88 billion) changed on the NSE.
Mundra Port is the second company of the Ahmedabad-based Adani Group to get listed on the bourses. With Tuesday's listing, the Adani's Group companies' market capitalisation is Rs 58,753 crore (Rs 587.53 billion). Adani Enterprise is the other listed company of the group.
Mundra Port had come out with an initial public offer (IPO), comprising 4.6 billion shares, priced in a band of Rs 400 to Rs 440 a share. The issue was subscribed by 115 times, with a tremendous response from institutional buyers.
Proceeds from the offer will help Mundra Port to set up cargo and coal terminals and develop a trade zone.
The Indian arm of Merrill Lynch, Enam Securities, JM Financial Consultants, SBI Capital Markets and SSKI Corporate Finance arranged the share sale.
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