Shankara Building Products made an impressive debut on the share markets today, with shares listing at a premium of 20.66%, at Rs. 555.05 on the NSE, and at Rs. 545, up 18.5% of the issue price, on the BSE. As of 2 pm, the share price on the BSE was up 37.47%, at Rs. 632.35.
Shankara Building Product's IPO had received an enthusiastic response from investors, and the Rs. 350 crore issue was oversubscribed by 41.6 times of the issue size overall, and the retail investor portion saw a subscription of 15.35x times. The Bangalore based organised retail company has touted its margin improvement over the past two years, and says it expects to open 15-20 new stores every year.