Shares of PC Jeweller listed on stock exchanges on Thursday surged 10% over its issue price of Rs. 135 a share.
The company's shares opened on a positive note and ended up over 10% at Rs. 149.0 on the BSE.
On the National Stock Exchange (NSE), shares in the retailer ended at Rs. 149.2, up 10.5% from its IPO price of Rs. 135 to institutional investors.
The Rs. 609-crore initial public offer (IPO) of PC Jeweller was oversubscribed 6.9 times on the last day of issue, December 12.
The company had fixed the price band of IPO at Rs. 125-135 per share. The issue price was fixed later at Rs. 135 a share.
PC Jeweller has 30 showrooms and it plans to open 20 new retail showrooms by utilising funds raised through IPO. The Delhi-based jeweller had posted sales of about Rs. 3,000 crore in the 2011-12.