After the successful listing of three major IPOs on Indian stock exchanges today, Zerodha founder Nithin Kamath stressed the importance of more Indian companies going public to help the country’s markets grow.
Kamath congratulated the three companies on their strong stock market debuts, noting that the positive investor response shows satisfaction. He said, “For our markets to grow, we need more homegrown companies to list and ensure that IPO investors benefit. Successful IPOs encourage other companies to go public and attract more retail and institutional investors.”
Kamath also referred to a challenge highlighted by SEBI member Ananth Narayan: India needs more new securities, especially as domestic investment flows are on the rise.
IPO Listings
Unicommerce eSolutions made an impressive stock market debut today, with its shares listing at ₹235 on the NSE, a 117.59% premium over its IPO price of ₹108. The stock hit a high of ₹256.15, up more than 137% from the issue price, before closing 94.5% higher at ₹210.05.
Brainbees Solutions, the parent company of FirstCry, also had a strong debut, with shares listing at ₹651 on the NSE, a 40% premium over its IPO price of ₹465 per share. The stock reached a high of ₹707.05, marking a 52% increase from the issue price, and closed 45.86% higher at ₹678.25.
Ola Electric Mobility shares continued their upward momentum, surging 18.82% to a record high of ₹130 before closing 1.22% lower at ₹108.07. Since its IPO debut, the stock has climbed 42% from its issue price of ₹76. After a flat initial listing, Ola shares hit the upper circuit limit for two consecutive trading days.
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