Making a strong debut, Gujarat-based crop protection chemicals manufacturer Heranba Industries on Friday listed at a premium of over 43 per cent over its issue price of Rs 627.
On BSE, the scrip was listed at Rs 900, higher 43.54 per cent over the premium price.
However, shedding the intra-day gains, it closed the counter at Rs 812.25, down 9.75 per cent over the opening price.
On NSE, the scrip got listed at Rs 900. It settled at Rs 826, down 8.22 per cent over the opening price. Heranba Industries Limited's initial public offering (IPO) was open for subscription between February 23 and February 25 to finance its working capital requirements and general corporate purposes and an offer for sale, as per a release.
"The IPO was for upto 90,15,000 equity shares for Rs 6,252.40 million of face value of Rs 10 each for cash at a premium offered through a book-building route at a price-band of Rs 626 to Rs 627 per equity share," the release added.