Mumbai, Nov. 13 -- Advent was formed after the demerger of the hospitality business from Valor Estate, formerly DB Realty. Advent Hotels listed on the NSE and BSE today, 13 November.

The stock opened at Rs 313 on the NSE, almost matching its discovered price of Rs 312.70. On the BSE, it debuted at Rs 310, a 17.20% premium to the implied price of Rs 264.50.

Advent shares were last seen around Rs 328.65 on the NSE and Rs 325.45 on the BSE, holding gains of about 5% from the listing price.

The listing follows the NCLT-approved demerger, under which eligible Valor shareholders received 1 equity share of Advent for every 10 equity shares of Valor. The company said the move will improve visibility, offer liquidity to shareholders and strengt...