India Pesticides share lists on BSE, NSE India Pesticides share lists on BSE, NSE India Pesticides made a strong debut on BSE and NSE today with the shares listing at a 21.62% premium to the IPO issue price.
India Pesticides stock listed at Rs 360 on BSE against IPO price of Rs 296.The agrochemical company fixed a price band of Rs 290-296 per share for its IPO.
The stock hit an intra day high of Rs 368, 24.32% higher than its IPO price. At 10:17 am, the stock was trading 20% higher at Rs 355.25 on BSE.
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Total 11.38 lakh shares changed hands amounting to turnover of Rs 41.32 crore on BSE.
Market cap of the firm rose to Rs 4,098 crore.
On NSE, the share opened at Rs 350, 18.24% higher than the IPO issue price.
Total 1.51 crore shares changed hands on NSE amounting to Rs 542.12 crore. Market cap of the firm rose to Rs 4,060 crore.
The IPO was held from June 23 to June 25, 2021. The firms raised Rs 800 crore from share sale. The initial public offer (IPO) was subscribed 29 times on the final day of bidding. Investors bid for 56.07 crore shares against 1.93 crore shares on sale.
The portion for qualified institutional investors was subscribed 42.95 times while the non-institutional investor category received bids for 51.88 times. Retail investors put in bids 11.30 times their reserved portion. The IPO size was reduced to 1.93 crore shares after the firm raised Rs 240 crore from anchor investors on June 22, a day before the issue opened.
The company raised Rs 240 crore from anchor investors. The firm allotted 81,08,107 equity shares to 12 anchor investors at Rs 296 per equity share.
At this price, the company fetched Rs 239.99 crore. Abu Dhabi Investment Authority, Tara Emerging Asia Liquid Fund, and BNP Paribas were among the foreign portfolio investors who participated in the anchor book.
Domestic investors were SBI Mutual Fund, Nippon India Mutual Fund, Tata Mutual Fund, Bajaj Allianz Life Insurance Company, Bharti AXA Life Insurance Company, and Winro Commercial India.
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