Anupam Rasayan makes tepid market debut; close with over 6% discount

Anupam Rasayan makes tepid market debut; close with over 6% discount

Later as the trade progressed, the stock tumbled 9.70 per cent to Rs 501.15 during the day. It finally closed at Rs 525.90, lower by 5.24 per cent.

PTIUpdated: Wednesday, March 24, 2021, 08:14 PM IST
article-image
Anupam Rasayan raised Rs 225 crore from 15 anchor investors: Know about the company before investing in its IPO |

Shares of speciality chemicals company Anupam Rasayan India made a weak market debut on Wednesday and closed with a decline of over 6 per cent, against its issue price of Rs 555.

It listed at Rs 534.70, a discount of 3.65 per cent from the issue price on the BSE.

Later as the trade progressed, the stock tumbled 9.70 per cent to Rs 501.15 during the day. It finally closed at Rs 525.90, lower by 5.24 per cent.

On the NSE, it debuted at Rs 520, a decline of 6.30 per cent from the issue price and later closed with a decline of 6.57 per cent at Rs 518.50.

In traded volume terms, 15.82 lakh shares were traded at the BSE and over 1.61 crore units at the NSE during the day.

Its market valuation was at Rs 5,254.92 crore on the BSE.

The initial public offer of Anupam Rasayan India was subscribed 44.06 times earlier this month.

The price range for the Rs 760-crore offer was Rs 553-555 per share.

Anupam Rasayan commenced operations in 1984 with conventional products and now it makes speciality chemicals that involve multi-step synthesis and complex chemistries.

The company mainly caters to the agrochemical, personal care and pharmaceutical sectors, which accounted for over 95 per cent of its revenues in 2019-20.

Its clients include Syngenta Asia Pacific, Sumitomo Chemical Company and UPL Limited.

RECENT STORIES

InGovern Flags Regulatory Loopholes As Viceroy Report On Vedanta Sparks Concern Over Unregulated...

InGovern Flags Regulatory Loopholes As Viceroy Report On Vedanta Sparks Concern Over Unregulated...

Kesoram Industries’ Q1 Loss Widens To ₹99.3 Crore, Revenue Drops 9.3% YoY

Kesoram Industries’ Q1 Loss Widens To ₹99.3 Crore, Revenue Drops 9.3% YoY

Income Tax Dept Launches Crackdown On Fake ITR Claims, AI Flags Suspicious Deductions

Income Tax Dept Launches Crackdown On Fake ITR Claims, AI Flags Suspicious Deductions

Tata Technologies Q1 Profit Rises 5% To ₹170 Crore; CEO Sees Strong H2 On Deal Pipeline Growth

Tata Technologies Q1 Profit Rises 5% To ₹170 Crore; CEO Sees Strong H2 On Deal Pipeline Growth

India’s Veg Oil Imports Flat In June, Crude Oil Shipments Surge After Duty Cut

India’s Veg Oil Imports Flat In June, Crude Oil Shipments Surge After Duty Cut