Anupam Rasayan lists at a discount on exchanges; Stock tumbles nearly 10% so far on debut day

Anupam Rasayan shares are listed and admitted to dealings on Sensex in the list of 'B' Group Securities.

Mar 24, 2021 11:03 IST India Infoline News Service

Anupam Rasayan India faced the broader bearish market heat during its listing on Wednesday. The company's stock has tumbled to nearly 10% on Dalal Street after touching the 52-week low of Rs501.15 per piece compared to the IPO upper price band of Rs555 per share.

Anupam Rasayan listed at Rs534.70 per piece on Sensex, which is at a discount of 3.65% compared to the IPO upper price band.

At around 11.50 am, Anupam Rasayan was trading at Rs517.50 per piece down by Rs37.50 or 6.76% on Sensex against the IPO issue price.

Anupam Rasayan shares are listed and admitted to dealings on Sensex in the list of 'B' Group Securities.

The company had launched its initial public offering (IPO) between March 12-March 16, 2021. The IPO's price band stood Rs553 per share to Rs555 per share.

The IPO was oversubscribed by 44.06 times.

Anupam Rasayan India Limited is one of the leading companies engaged in the custom synthesis and manufacturing of specialty chemicals in India. Our business verticals are (i) life science related specialty chemicals comprising products related to agrochemicals, personal care and pharmaceuticals, and (ii) other specialty chemicals, comprising specialty pigment and dyes, and polymer additives. With our customers at the heart of everything we do, our focus is to manufacture products with sustainability using our continuous process technology through flow chemistry and photo chemistry, greater R&D and engineering capabilities to deliver values for our customers for their complex and multi-step synthesis projects.

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