Meanwhile, the S&P BSE Sensex was up 254.31 points or 0.94% at 27,380.88

The stock debuted at Rs 585 on BSE, a discount of 9.3% from the initial public offer (IPO) price. The stock hit a high of Rs 632.45 and a low of Rs 528.15 so far during the day. On BSE, 11.72 lakh shares were traded on the counter so far during the day.

Monte Carlo Fashions' initial public offer (IPO) was subscribed 7.83 times. The IPO had received bids for 2.97 crore shares compared with 38.03 lakh shares on offer, as per data NSE data. The issue had opened for subscription on 3 December 2014 and had closed on 5 December 2014. The company had priced the initial public offer (IPO) at the top end of the Rs 630 to Rs 645 price band.

Categorywise, qualified institutional buyers' (QIBs) category was subscribed 13.96 times, non institutional investors' category was subscribed 1.71 times and retail individual investors' (RIIs) category was subscribed 6.96 times.

Monte Carlo Fashions had on 2 December 2014 raised Rs 105.07 crore through pre-initial public offer (IPO) placement of 16.29 lakh shares to anchor investors at Rs 645 per share. The anchor investors included Aditya Birla Private Equity Trust through its two funds, DB International (Asia), Tata Trustee Co, Tata Mutual Fund and Birla Sun Life Trustee Co. Birla Mutual Fund has applied through six schemes.

The company's net profit fell 11.58% to Rs 48.90 crore on 24.55% rise in net sales to Rs 503.73 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013).

Monte Carlo Fashions is one of the leading Indian Apparel players. Its brand Monte Carlo has been recognized as a super brand for woolen knitted apparel in each edition of Consumer Super brands India since its inception in 2004. The company primarily caters to the premium and mid premium branded apparel segment for men, women and kids, offering a comprehensive range of woolen, cotton and cotton blended knitted and woven apparel and home furnishings through 196 exclusive Monte Carlo brand outlets and more than 1,300 multi-brand outlets (MBOs).