Chemplast Sanmar IPO received a warm action from financiers, with membership of 2.17 timesChemplast Sanmar shares have made a lacklustre launching on the bourses.
The shares of the specialty chemical company listed at Rs 525 on the BSE, 3 percent discount compared to the issue cost 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 specialized chemical company had actually received a tepid action from financiers.
The share offer was subscribed 2.17 times; the retail portion was scheduled 2.29 times, the portion set aside for qualified institutional purchasers was subscribed 2.7 times and non-institutional investors sector saw 1.03 times subscription.Chemplast Sanmar is a part of the SHL Chemicals Group, owned by Sanmar Holdings.
It is a specialty chemicals producer with a concentrate on specialized paste PVC resin and customized production of starting products and intermediates for pharmaceutical, agro-chemical and fine chemicals sectors.
It is likewise the leading producer of specialized paste PVC resin in India.