Archean Chemical lists at 11% premium over the issue price

21 Nov 2022 , 10:33 AM

Archean Chemical Industries (ACIL) made a solid stock market debut, with shares trading at an 11% premium to its initial public offering price of Rs. 407 per share on the National Stock Exchange (NSE). Following the listing, the shares increased, reaching Rs 473.65, up 16% on the BSE issue price. The stock reached a high of Rs 462.45 at 10:04 a.m. The S&P BSE Sensex, however, was down 0.73 %.

The ACIL IPO, which raised Rs 1,462 crore, received a positive reaction, with the issue being subscribed 32.23 times. The segment reserved for institutional investors received 48.91 subscriptions. In contrast to the retail investor allocation, which received 9.96 times as many bids, the non-institutional buyer quota was 14.90 times subscribed.

The non-convertible debentures (NCDs) issued by the company totaling Rs 644 crore were proposed to be redeemed or redeemed sooner in part or in full with the net proceeds of the new issue, as well as a prepayment for general corporate purposes.

For feedback and suggestions, write to us at [e-mail]