The IPO of India Pesticides is worth Rs 800 crore. This share has got 29 times subscription. During the business, it jumped up to 21.62 percent.
This share has got 29 times subscription.
India Pesticides Listing: Shares of India Pesticides Ltd closed up 16 per cent against the issue price of Rs 296 on the first day of listing. The company’s shares were listed at Rs 360 at the beginning of trading. In the Bombay Stock Exchange, it was initially 21.62 percent higher than the issue price.
After this, the stock rose 24.32 percent to reach Rs 368. At the close of trading, it closed 15.92 percent higher at Rs 343.15. Thus, in the first day of trading, it closed at a premium of 16 per cent to the issue price. It was initially recorded at Rs 350 when listed on the National Stock Exchange. It registered an increase of 18.24 percent. At the end of trading, it closed at 342.30 points with a gain of 15.64 percent.
The size of the IPO was 800 crores
On the first day of listing, 21.22 lakh shares of the company were traded in the Bombay Stock Exchange, while 2.56 crore shares were traded in the National Stock Exchange. The company’s market capitalization on the BSE stood at Rs 3,951.84 crore. The initial public issue of India Pesticides Limited was successful in getting 29 times more bids in the market last month. For this, a price range of Rs 290 to 296 was kept. The issue size was Rs 800 crore.
agri chemical business
India Pesticides Limited is a Research & Development based Agricultural Chemicals Manufacturer. It is a fast growing agro-chemical company in the country in terms of technical manufacturing. On a year-on-year basis, manufacturing registered a growth of 37.71 percent.
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