Plaza Wires' shares were listed at a premium of 56 per cent to Rs 84 on BSE, while the stock debuted at a premium of 41 per cent on the National Stock Exchange (NSE).
The IPO of Plaza Wires open for bidding between September 29 and October 5. The company offered its shares in the price band of Rs 51-54 per share with a lot size of 277 shares.
Plaza Wires IPO | The demand for its equity shares also remained strong in the grey market, trading with 42 percent premium over the issue price, analysts said
"Signature Global has a history of losses and faces concentration risk and stiff competition from other developers. After this listing, investors should consider booking profit. However, those who want to hold it should maintain a stop loss at Rs 400," said Shivani Nyati, Head of Wealth, Swastika Investmart.