Mumbai: Paring its initial losses, theme park operator Adlabs Entertainment ended 7 per cent higher than the issue price of Rs 180 on its first day of trading.
Shares of the company ended at Rs 191.25, reflecting a gain of 6.25 per cent over the issue price on BSE.
Earlier, the stock had listed at Rs 167.95, down 6.69 per cent compared to the issue price.
During the day, the scrip touched a high of Rs 199 and a low of Rs 156.40. At the NSE, the stock closed at Rs 192.65, up 7 per cent.
On volume front, 29.04 lakh shares of the company changed hands at the BSE and over 90 lakh shares were traded at the NSE during the day.
The company's IPO, which was off the ground last month, was subscribed 1.11 times, helping it mop up an estimated Rs 376 crore.
The funds raised include Rs 60 crore from anchor investors.
Adlabs offer price was lowered to Rs 180-215 from Rs 221-230 per share while the closure date was extended by three days amid tepid response from institutional investors.
The issue had opened on March 10. Adlabs Entertainment is promoted by Manmohan Shetty and Thrill Park.
