Shares of Samhi Hotels Ltd on Friday listed with a gain of nearly 7 per cent against the issue price of Rs 126.
The stock made its debut at Rs 130.55, up 3.61 per cent from the issue price on the BSE. Later, it climbed 5.55 per cent to Rs 133.
At the NSE, it began the trade at Rs 134.50, rallying 6.74 per cent.
The company's market valuation stood at Rs 2,791.94 crore in early trade.
In the equity market, the 30-share BSE benchmark traded 82.47 points lower at 66,147.77 and the Nifty quoted 33.15 points down at 19,709.20.
The Initial Public Offering (IPO) of Samhi Hotels was subscribed 5.33 times on the last day of bidding on Monday.
The Rs 1,370-crore initial share sale had a price range for the offer at Rs 119-126 a share.
The IPO had a fresh issue of up to Rs 1,200 crore and an offer for sale of up to 13,500,000 equity shares.
Gurugram-based Samhi Hotels acquires and builds primary hotels and thereafter renovates, rebrands and rerates the property and runs it.