Shares of Adani Power touched a high of Rs 107.90, up eight per cent over the issue price on BSE, in early trade.

On the National Stock Exchange the scrip opened at Rs 108 and surged by 10 per cent to a high of Rs 110.

The scrip remained one of the top traded counters in terms of volume in morning trade with over 2.32 crore shares changing hands on the bourses.

The company has listed over 218 crore (2,18,00,35,200) shares on the bourses.

Adani Power came out with an initial public offer (IPO) last month garnered demand of nearly 22 times the shares on offer and raised over Rs 3,000 crore.

The electricity generating unit of Adani Enterprises plans to deploy Rs 2,193 crore of the issue proceeds for funding its projects, while the balance would be utilised for general corporate purposes.

The scrip was quoted at Rs 101.60, up 1.60 per cent on BSE and at Rs 101.15 on NSE at 1005 hrs.