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The IPO is valued at 42.6x FY21 earnings and 43.7x FY22 annualised earnings, which Reliance Securities said was a reasonable pricing.

A total of 50,172 shares changed hands on the counter till 12:39PM (IST)

Promoters held 50.05 per cent stake in the company as of 30-Sep-2021, while FII and DII ownership stood at 13.59 per cent and 8.4 per cent, respectively.

Consolidated revenue from operations of the company stood at Rs 593.01 crore for the quarter under consideration. It was Rs 443.56 crore for the same period a year ago, it added.

The stock traded at a P/E multiple of 304.14, while the price-to-book value ratio stood at 5.13.

The global crypto market cap added more than a per cent, to reach $2.85 trillion, compared with the previous day. However, the crypto market volume tanked about 29 per cent to $125.67 billion.

As of 30-Sep-2021, promoters held 33.96 per cent stake in the company, while FIIs held 16.4 per cent and domestic institutional investors had 10.46 per cent.

“This is the first time in probably two decades that we are going to see the birth of two new airlines instead of airlines being weeded out and closing down. We are going to have a reborn avatar of Jet Airways and Akasa is going to come into the fold along with Air India under new management. ”

Mumbai-based Sunteck Realty had posted a net profit of nearly Rs 42 crore over a turnover of Rs 631 crore during the entire 2020-21 financial year.

The Nifty Auto index was trading 0.26 per cent down at 11659.95.