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BUSINESS - JET AIRWAYS LISTING

 

Jet Airways makes impressive debut on the stock exchanges

Jet Airways scrip had an impressive first day today at the stock markets in India. 

 

BY OUR BUSINESS CORRESPONDENT

14 Mar 2005: On both the bourses, the Jet scrip zoomed high on heavy buying and posted combined market capitalisation of over Rs. 22,000 crore at the National stock exchange and the Stock Exchange, Mumbai (BSE)

At the NSE, Jet Airways, the first airline in India to be listed, saw the capitalisation surge to Rs. 11,259.16 crore while at the BSE, the scrip was equally aggressively bid, ending with a market cap of Rs. 11,266 crore. According to stock amrket analysts, this is a record figure on the debut of a scrip.
The airline scrip opened at Rs. 1,155, at premium toissue price of Rs. 1,100 per share while the first trade for 4,000 shares was struck at Rs. 1,428 per share, a NSE official said today after the listing ceremony here.

According to NSE data, the last traded price of the Jet Airways scrip is at Rs. 1,293.90 while highest prices were registered at Rs. 1,338.90 and low at Rs. 1,155. Total traded quantity of the scrip was 1.26 crore with turnover of Rs. 583.50 crores at NSE.

Meanwhile, the first trade struck at BSE was at Rs. 1,211 while the highest price for the Jet scrip during the day was registered at Rs. 1,339 and low at Rs. 1,172. The last traded price at Rs. 1,302 and the total traded quantity was 68.08 lakh shares.

Jet Airways, India's only listed private airline, which had floated an IPO for 1.72 crore shares of Rs. 10 each, constituting 20 per cent of the post issue capital, had raised Rs. 1,899 crore.
Part of the IPO proceeds would be used to retire some high-cost debt, including Rs. 400 crore taken from IDFC. 

BY OUR BUSINESS CORRESPONDENT

 

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