New listings...DB Corp., Godrej Properties shine

DB Corp., the publisher of Dainik Bhaskar newspaper, commenced its stock market journey on a strong note. The stock started trading at Rs250 per share on the BSE as against its issue price of Rs212 per share. The closed the week at Rs253. The company's IPO was a big hit with the issue getting subscribed by nearly 40 times last month.

Godrej Properties Ltd. listed at Rs510, a premium of 16% over the issue price of Rs490 per share on the BSE. Godrej Properties, part of the Godrej group had entered the capital markets with its IPO of 9,429,750 shares at a price band of Rs490 to Rs530, totaling up to Rs5bn. The IPO of Godrej Properties received an overwhelming response as it got subscribed four times. It ended the week at Rs521.

Shares of JSW Energy, a part of the JSW Group, failed to sparkle on its debut and edged higher by 0.75% to end at Rs100.75. The company had fixed the price at Rs100 per share of Rs10 each for it’s IPO of equity shares aggregating up to Rs27bn. A discount of Rs5 to the issue price was offered to retail investors. The stock closed the week at Rs113.