On account of the Government Pension Fund Global, Norges Bank executed two bulk deals
Shares of the newly-listed Inventurus Knowledge Solutions rose over 6% on December 20 as Norway-based Norges Bank bought over 34 lakh shares worth Rs 652 crore.
On December 20, the stock rose over 6% to trade at Rs 2,148 before paring its gains to trade 2% higher at Rs 2,004.
The IPO free float was 1.03 crore shares and nearly 33% shares were cornered by the single entity.
On account of the Government Pension Fund Global, Norges Bank executed two bulk deals.
They purchased 16.59 lakh shares at Rs 1,923.92 apiece and 17.5 lakh shares at Rs 1,899.67 apiece.
Shares of Inventurus Knowledge Solutions Ltd, which provides healthcare support services, listed with a premium of nearly 43% against the issue price of Rs 1,329 on December 19.
The stock made its debut at Rs 1,856, rallying 39.65% from the issue price on the BSE. Later, it surged 46.13% to Rs 1,942.10.
The initial public offer of Inventurus Knowledge Solutions Ltd received 52.68 times subscription on the closing day of bidding.
The Rs 2,498-crore initial share sale had a price band of Rs 1,265-1,329 per share.
The company’s IPO was entirely an Offer For Sale (OFS) of 1.88 crore equity shares by promoters and individual shareholders, with no fresh issue component.
The company, which is backed by Rekha Jhunjhunwala and RARE Enterprises, in its IPO papers stated that the objective of the initial share sale is to gain the advantages of listing the equity shares on the stock exchanges.