Blockbuster debut for Dixon Technologies; shares zoom over 54%

New Delhi: Shares of consumer electronics manufacturer Dixon Technologies today made a spectacular debut on the bourses, surging over 54 percent against the issue price of Rs 1,766. The stock opened the day at Rs 2,725, reflecting a sharp gain of 54.30 percent from the issue price on the BSE. [caption id=“attachment_4055679” align=“alignleft” width=“380”]  Reuters[/caption] It later touched a high of Rs 2,998.90, up 69.81 percent. At NSE, shares of the company listed at Rs 2,725, soaring 54.3 percent from the issue price. The company commands a market valuation of Rs 3,287.90 crore. On the equity volume front, 6.04 lakh shares of the company were traded on BSE and over 38 lakh shares changed hands on NSE during the morning trade. Dixon Technologies’ IPO was oversubscribed 117.83 times during 6-8 September. The portion reserved for qualified institutional buyers (QIBs) was oversubscribed 134.66 times, non-institutional investors - 345.61 times and retail individual investors - 10.60 times. The company had fixed the price band at Rs 1,760-1,766.