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Anupam Rasayan IPO: The issue was sold in price band of Rs 553-555 per share
Anupam Rasayan shares listed at a discount on the bourses. The shares listed at Rs 534.37 on the BSE, which is a 3.6 per cent discount to the issue price of Rs 555. On the NSE, the shares listed at Rs 520, a discount of Rs 6.3 per cent. At 10:15 am, the shares of Anupam Rasayan were trading at Rs 516.85, lower by 7 per cent on the BSE and Rs 514.95, lower by 7.03 per cent on the NSE. The specialty chemical company’s Rs 760 crore initial public offer (IPO) was open for subscription between March 12 and March 16. The issue, which was sold in the price band of Rs 553-555 per share, was subscribed by 44 times.
Ahead of the IPO, Anupam Rasayan raised Rs 225 crore from 15 anchor investors, including Aditya Birla Sunlife Mutual Fund (MF), Nomura Funds Ireland Public Company, Fidelity International, Sundaram MF and SBI Life Insurance Co.
Anupam Rasayan started operations at Surat in 1984. It has six manufacturing units across the state of Gujarat, with a combined installed capacity of around 23,396 metric tonnes.
Axis Capital, Ambit Private, IIFL Securities and JM Financial are the book-running lead managers, while kfintech is the registrar to the issue.
Anupam Rasayan India is the 11th company to list on the bourses this year.
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