Microcrystalline cellulose manufacturer Sigachi Industries shares listed with a huge premium of nearly 253 percent in its debut trade on Monday against the issue price of Rs 163.
The stock is listed at Rs 575, a premium of 252.76 percent on BSE. It then rallied 270.39 percent to Rs 603.75.
On NSE, it debuted at Rs 570, zooming 249.69 percent.
The initial public offer of Sigachi Industries eceived a whopping 101.91 times subscription earlier this month.
The price range for the Rs 125.42 crore offer was at Rs 161-163 per share.
Rahul Sharma, Co-Founder, Equity99, said, "Sigachi Industries manufacturer of Microcrystalline Cellulose (MCC) got listed today at premium of 250 percent highest in recent times. Long-term investors are advised to remain invested considering nische product offering of company. However considering listing premium short term investors are advised to book their profits as their capital is almost 3x in 10 to 15 days. For fresh Entry, advice would be wait for declines and not to enter fresh at the listing gains of 267 percent.
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