Business Today
Loading...

Chemcon Speciality Chemicals share closes 72% higher on listing day

Share of Chemcon Speciality Chemicals closed 72% higher at Rs 584 against the issue price of Rs 340 

twitter-logoBusinessToday.In | October 1, 2020 | Updated 17:07 IST
Chemcon Speciality Chemicals share closes 72% higher on listing day
The share fell 20% to Rs 584 compared to its debut price of Rs 730.95 on BSE.

Chemcon Speciality Chemicals share delivered 72% gains for its investors during its listing today. Share price of Chemcon Speciality Chemicals closed 72% higher at Rs 584 against the issue price of Rs 340 per share.

The share fell 20% to Rs 584 compared to its debut price of Rs 730.95 on BSE. The firm made a strong market debut with the share clocking listing gains of 115% to its issue price of Rs 340 today. The share opened at Rs 730.95 on BSE today.

The share sale had a price band of Rs 338 to Rs 340 per share. The stock further rose 118.74% to intra day high of Rs 743 on BSE. Total 19.45  lakh shares of the firm changed hands amounting to turnover of Rs 122.11 crore on BSE. Market cap of the firm rose to Rs 2,242 crore.

The stock further rose 118.74% to intra day high of Rs 743 on BSE. Total 13.88 lakh shares of the firm changed hands amounting to turnover of Rs 88.94 crore on BSE.

The share sale received an overwhelming response from investors seeing 46.5 times subscription on the final day of bidding on October 23. The company's public offer received bids for 30.50 crore shares against the issue size of 65.59 lakh shares (excluding anchor book).

The portion set aside for retail investors was subscribed 33 times and the qualified institutional investors segment received 12.94 times bids against the allotted size. The quota reserved for non-institutional investors was subscribed 122.4 times.

Mazagon Dock Shipbuilders IPO subscribed two times on day 1, retail portion 5.6 times

The share sale ended on September 23. The specialised chemical products manufacturer sold 93.52 lakh shares of Rs 10 each. Of these, 48.52 lakh shares were issued fresh and 45 lakh shares were part of offer for sale (OFS). Shares wer available in a price band of Rs 338 to Rs 340 per share.

One could bid for the stock in a lot size of 44 shares amounting to Rs 14,960. A maximum 13 lots comprising 572 shares worth Rs 1,94,480 can be applied by an individual. Ambit Private Limited and Intensive Fiscal Services Private Limited  are lead managers to the issue. Link Intime India is the registrar to the issue.

Chemcon raised around Rs 350-400 crore through the IPO. The firm plans to utilise fresh issue proceeds for expansion of manufacturing facility, working capital requirements and general corporate purposes. 

Sept IPO tally best in 30 months; 8 firms raise roughly Rs 7,000 cr

Youtube
  • Print

  • COMMENT
BT-Story-Page-B.gif
A    A   A
close