Mumbai: Shares of New Delhi-based MV Electrosystems Limited, which is a technology-driven company engaged in the design, development, assembly and manufacturing of electrical and power electronics equipment used in railways, listed at Rs 520 on the exchange, a premium of 22.4% to IPO price.

The scrip closed at Rs 622.75 on the BSE and Rs 624 on the NSE.

As per NSE, the total quantity traded stood at 175.38 lakh shares, on BSE the total Quantity stood at 17.42 lakh shares. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1098.7 crore.

The Market Capitalization of the Company at today’s closing price stood at Rs 1,699 crore as per BSE and Rs 1,702.4 crore as per NSE.

The issue received bids of 80,85,51,348 equity shares against the offered 39,87,491 equity shares, according to data available on the stock exchanges.

Qualified Institutional Buyers (QIB) and Retail Portion were subscribed 115.99 times and 205.42 times, respectively. Non-Institutional Investors (NII) portion was subscribed 374.58 times.