Chemplast Sanmar IPO received a tepid response from investors, with subscription of 2.17 times
Chemplast Sanmar shares have made a weak debut on the bourses. The shares of the specialty chemical company listed at Rs 525 on the BSE, 3 per cent discount compared to the issue price of Rs 541 per share. At 10:40 am, Chemplast Sanmar shares were trading at Rs 526.30, lower by 2.72 per cent, on the BSE and at Rs 526.20, down 2.7 per cent, on the NSE.
The public offer of the specialty chemical company had received a tepid response from investors. The share offer was subscribed 2.17 times; the retail portion was booked 2.29 times, the portion set aside for qualified institutional buyers was subscribed 2.7 times and non-institutional investors segment saw 1.03 times subscription.
Chemplast Sanmar is a part of the SHL Chemicals Group, owned by Sanmar Holdings. It is a specialty chemicals manufacturer with a focus on specialty paste PVC resin and custom manufacturing of starting materials and intermediates for pharmaceutical, agro-chemical and fine chemicals sectors. It is also the leading manufacturer of specialty paste PVC resin in India.
