Manufacturer of specialty chemicals, Galaxy Surfactants, made a decent debut in the stock market. The scrip got listed at Rs 1,520 on Bombay Stock Exchange. The issue price was fixed at Rs 1,480. The stock was priced at P/E of 35.9 times during the financial year 2017 and 34.9 times during the first half of 2018 reports economic times.
The IPO was offered from January 29 to January 31 and was subscribed 19.96 times. The Rs 937 crore IPO was subscribed 54.27 times by qualified institutional buyers, 6.96 times by noninstitutional investors and 6.01 times by retail investors.
The company is into manufacturing surfactants and other specialty ingredients for personal and home care industries. The companies PS and SCP are utilized as raw materials in personal and home care products.
PS is used as a raw material for manufacturing consumer staples, and SCP has a functional characteristic which adds value to end product.