Chemplast Sanmar shares list at loss debut at discount to IPO price open at Rs 525

Chemplast Sanmar’s poor start has left investors disappointed, despite the boom in the stock market, the re-entry was not spectacular

Shares of Chemplast Sanmar have re-entered the market and were earlier delisted in 2012.

Chemplast Sanmar Listing: Chemplast Sanmar has also disappointed the investors today on 24th August after the poor listing of Cartrade Tech and Nuvoco Vistas. Today, the domestic stock exchange is showing a boom, despite this its listing has been lackluster. The company’s shares were listed on the BSE at a discount of about 3 percent at Rs 525 against the IPO price of Rs 541. However, its shares were listed on NSE at a premium of just 1.66 per cent i.e. Rs 550.

Let us tell you that the shares of the company have re-entered the market and before that it was delisted in 2012. Its IPO was open for subscription on August 10-12. This IPO of Rs 3850 crore was subscribed 2.17 times. Its market cap at the time of listing stood at Rs 8300.75 crore. Post listing, the company has joined the league of PI Industries, SRF, Finolex Industries and Naveen Fluorine International on the exchange.

Nuvoco Vistas Listing: Nuvoco Vistas disappointing investors due to poor opening, listing at less than issue price

What does the company do?

Chemplast manufactures Sanmar Specialty Chemicals. Its focus is on custom manufacturing for specialty paste PVC resin and starting material. Apart from this, it also manufactures intermediary products for the pharma, agro-chemical and fine chemicals sectors. The company has a debt of Rs 1,187 crore as of December, 2020. Grasim Industries Ltd. in India. DCM Shriram Limited (CM Shriram Limited). Gujarat Alkalies and Reliance Industries Ltd. manufactures specialty paste PVC resins.

Nuvoco Vista’s faded listing a day ago

Cement company Nuvoco Vistas Corporation was listed in the market a business day earlier on 23 August. Its shares were listed on NSE at 14.91 per cent i.e. Rs 485 against the issue price of Rs 570. However, after the start of trading, its price reached Rs 546 on NSE within the next 15 minutes. Today it is showing momentum but still it is at a discount price compared to the issue price. At present its price on NSE is Rs 546.95.

Get Business News ,, latest India News ,, and other breaking news on share market, investment scheme and much more on Business Khabar. Like us on Facebook, Follow us on Twitter for latest financial news and share market updates.

.

realistic reality mobile new
Default image
Business Khabar
We aim to constantly bring to you all the latest and most updated industry news across all major categories. With a wide variety of topics and categories under our umbrella, we bring to you the latest news and activities in the top sought areas of public interest.
Articles: 5415