Shares of Bikaji Foods International Ltd made its market debut at a premium of nearly 8 per cent against the issue price of Rs 300 on Wednesday. The stock listed at Rs 321.15, reflecting a gain of 7 per cent against the issue price on the BSE. It further rallied 11.66 per cent to Rs 335.
At the NSE, shares of the firm debuted at Rs 322.80, climbing 7.6 per cent. The company commanded a market valuation of Rs 8,192.66 crore on the BSE.
In the broader market, the 30-share BSE benchamrk traded flat in the morning trade, quoting 20.48 points higher at 61,893.47 at 10:25 hours. The initial public offering (IPO) of Bikaji Foods International was subscribed 26.67 times last week.
The Rs 881.22-crore IPO had a price range of Rs 285-300 a share.
Bikaji is the largest manufacturer of 'Bikaneri bhujia' with an annual production of 29,380 tonnes and is a leading maker of packaged 'rasgulla', 'soan papdi' and 'gulab jamun'.