Masonglory shares surge 24.82% intraday after underwriter exercises over-allotment option post-IPO.

Masonglory Limited (MSGY) surged 24.82% intraday following the announcement of the closing of the underwriter’s over-allotment option in connection with its $6 million initial public offering. The exercise of the over-allotment option, which allows underwriters to purchase additional shares to stabilize pricing, typically signals strong investor demand and confidence in the company’s post-IPO trajectory. This event aligns with the stock’s sharp intraday gain, as the completion of the IPO process and the underwriter’s actions likely reinforced market optimism about the firm’s capital-raising success and operational prospects.