It was a terrific listing yesterday for Naukri.com. The stock touched a high of Rs 623 and closed at Rs 594. The share appreciated 85 per cent (Rs 273) from the IPO allocation price of Rs 320. It opened at Rs 451. The stock recorded a total trading volume of 19.4 million, almost five times the IPO float of 5.32 million shares, in both the exchanges. That’s almost 71 per cent of the company’s total outstanding capital of 27.3 million shares changing hands.
“I didn’t expect such a response,” Sanjeev Bikhchandani told ContentSutra.
At this price, the market cap of Naukri is about Rs 1619 crore. That values Bikhchandani’s (plus his wife Surabhi’s) 44 per cent stake in the company at Rs 722 crore (these are notional numbers). It was a big moment for Bikhchandani, an economics graduate from St Stephen
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