Anupam Rasayan IPO: The problem was sold in cost band of Rs 553-555 per shareAnupam Rasayan shares listed at a discount rate on the bourses.
The shares listed at Rs 534.37 on the BSE, which is a 3.6 per cent discount to the concern rate 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 percent on the BSE and Rs 514.95, lower by 7.03 per cent on the NSE.
The specialized chemical company's Rs 760 crore preliminary public offer (IPO) was open for membership between March 12 and March 16.
The concern, which was offered in the rate 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 financiers, consisting of Aditya Birla Sunlife Mutual Fund (MF), Nomura Funds Ireland Public Business, Fidelity International, Sundaram MF and SBI Life Insurance coverage Co.Anupam Rasayan began operations at Surat in 1984.
It has six manufacturing units across the state of Gujarat, with a combined installed capability of around 23,396 metric tonnes.Axis Capital, Ambit Private, IIFL Securities and JM Financial are the book-running lead supervisors, while kfintech is the registrar to the issue.Anupam Rasayan India is the 11th business to list on the bourses this year.