Buying Mania; Shares of NRN Infrastructure and Development Flying off the roof in the first day

NRN Infrastructure and Development Limited's shares have traded from today in the secondary market of NEPSE.

Issuing a notice yesterday, NEPSE had notified of 1,13,26,821 Units IPO Shares of NRN Infrastructure & Development Limited listed in NEPSE. The open price was set in the range of Rs.102.06 to Rs.306.18 for the first transaction.

Today, the first transaction was made at Rs. 306.

As of writing, 42,347 units shares amounting to Rs. 13,843,162 have already exchanged hands in the first hour. Furthermore, the price has already risen by 10% of the highest limit for the first transaction.

While writing this article, there were buy orders of massive 2,85,570 units at Rs. 336 per share. Looking at the buy/sell orders, it is clearly apparent that significantly more buyers want to buy the shares than those who are willing to sell.