Chemcon Speciality Chemicals made a stellar debut on the bourses listing at a premium of 115% at a price of Rs. 730.95 per share on the BSE.
The chemicals company received the second-highest subscription for its IPO after Happiest Minds Technologies this year. The Rs. 318 crore IPO received stellar response from all investor categories and was subscribed 149.3 times during September 21-23.
Analysts expected the issue to list at a 100% premium in comparison to its IPO issue price owing to strong investors' interest, high entry-barriers in the specialty-chemicals industry as well as expectations of decent growth both in the domestic market and via exports.