Archean Chemical Shares, Debut Nearly 11 Pc Higher

Shares of Archean Chemical Industries Ltd listed on the stock exchanges with a premium of nearly 11 per cent against the issue price of Rs 407 on Monday, the first day of trade. The stock made its debut at Rs 449, higher by 10.31 per cent on the BSE. Later, it jumped 16.96 per cent to Rs 476.05. At the NSE, shares of the firm listed at Rs 450, reflecting a premium of 10.56 per cent.

In traded volume terms, 8.03 lakh shares of the firm were traded on the BSE and 1.50 crore shares on the NSE in morning trade. The initial public offering (IPO) of Archean Chemical Industries was subscribed 32.23 times earlier this month. The IPO had a fresh issue of equity shares aggregating up to Rs 805 crore and an Offer For Sale (OFS) of up to 1.61 crore shares by the promoter and investors. The price range for the offer was at Rs 386-407 per share.

(PTI)