Elcid Investments saw its share price soar to ₹2,36,250, making it India’s highest-priced stock after a rare auction allowed by SEBI.
Previously trading at just ₹3.5, the surge followed SEBI’s new framework aimed at better price discovery and liquidity for investment holding companies, which often trade below their book value. Elcid, a holding firm with shares in Asian Paints, had low liquidity due to limited free float and undervaluation. This special auction method also benefited other firms, including Pilani Investments and Mask Investment.