New Delhi: Shares in Snowman Logistics surged 62 per cent in its debut on Friday. At 10:04 am, the stock, which got listed at Rs 47 apiece, traded at Rs 69.78 on the National Stock Exchange.
The initial public offer (IPO) of Snowman Logistics was subscribed 59.75 times with total bids for 194.49 crore shares, compared with 4.20 crore shares on offer. The company had priced the IPO at the top end of the Rs 44 to Rs 47 per equity share price band.
This is the second initial public offer (IPO) so far this financial year and the first one after the Narendra Modi-led government came to power at the Centre in May. In April, amusement park operator Wonderla Holidays' IPO was oversubscribed 38 times in April.
Gateway Distriparks is promoter and the largest shareholder in Snowman Logistics.
