Galaxy Surfactants debuts with 3% premium at Rs 1,525

PTI Updated on February 08, 2018

On the NSE, the company shares opened at Rs 1,525, a premium of 3 per cent over the issue price.

New Delhi, Feb 8

Shares of speciality chemicals manufacturer Galaxy Surfactants rose 3 per cent in its debut trade today over its issue price of Rs 1,480.

The stock got listed at Rs 1,520, a gain of 2.70 per cent, over the issue price on the BSE. Later it soared 13.64 per cent to Rs 1,682. On the NSE, the company shares opened at Rs 1,525, a premium of 3 per cent over the issue price.

The company’s market valuation stood at Rs 5,768.49 crore. Galaxy Surfactants’ Rs 937-crore IPO was subscribed 20 times during the offer period from January 29-31.

As per NSE data, the portion reserved for qualified institutional buyers (QIBs) was subscribed 54.27 times, non-institutional investors 6.96 times and retail investors 6.01 times.

The IPO comprised 63,31,674 equity shares (including anchor portion of 18,99,500 equity shares). The IPO was in a price band of Rs 1,470-1,480 per share. ICICI Securities, Edelweiss Financial Services and J M Financial Institutional Securities managed the company’s IPO.

Published on February 08, 2018
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