Sun TV, which had hit the capital markets with a 600-crore IPO, listed on the bourses today. And boy, was it a super-duper hit! The IPO, with an offer price of Rs. 875, opened above Rs. 1000 at start of trade today. But as the day wore on, it breached 1100, 1200, 1300 and finally breached the 1500-rupee mark! That’s a whopping 70% gain in just a few hours.
(courtesy: Yahoo! Finance)
That’s very much in keeping with the trend of IPOs opening at very high prices. Anyway, the promoters of Sun TV would be pleased that they have been able to complete this exercise before the elections.
And, if you made some money in this scrip, don’t forget to vote for…
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