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Godrej Agrovet Pares Huge Listing Gains; Trades Higher By 27% To Issue Price
The huge listing price gradually lost in trade and the stock of GAL was seen to trade at Rs. 583.3.
After an overwhelming response, for the GAL IPO with operations across different business lines, the stock today listed with huge gains to the tune of Rs. 621 on the BSE as against its issue price of Rs. 460. Voluminous trading in the stock is reported in the stock on both the exchanges.
The stock pared its early listing gains and was last seen trading at Rs. 583.3 at 11:48 am on the BSE.
The first IPO by the group company Godrej Industries in 8 years time included an OFS and the company managed to mop up over Rs 79,000 crore for an issue size of Rs 1,158 crore.
Being a diversified company with presence in well-positioned segments, analysts giae a thumbs up to the issue on a long term perspective as the company is expected to create substantial value going forward.
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