Much awaited New Swan Multitech's IPO opened at an impressive Rs. 125 per share on the BSE SME, surpassing its issue rate of Rs. 66 per share. Despite the broader market downturn today, New Swan shares stood resilient, reaching a day high of Rs. 131.67 and a low of only Rs. 125.40 per share. The share closed at Rs. 131.67 whereas the markets today kept trading in red as NIFTY closed at 21,462.25 (109.70 points lower than Wednesday’s close) and Sensex closed at 71,186 (314 points lower than Wednesday’s close)

Ludhiana headquartered New Swan Multitech is a subsidiary of Upkar Ahuja's New Swan Group, had launched its IPO last week, which was oversubscribed 384 times. The performance of the share so far has been very impressive but city residents are disappointed because majority of them were unable to get allotment of the shares which was held due to its oversubscription. On the other hand, some retail investors, who missed out on the IPO, are now acquiring shares at a premium in anticipation of strong future performance.

New swan nse bse sensex nifty upkar singh ahuja msme cicu