Bumper Listing: Chemcon soars 118% on listing day

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 Mumbai, 1 October, 2020: Leading manufacturer of speciality chemicals, Chemcon Speciality Chemicals Limited whose IPO opened on September 21, 2020 and closed on September 23, 2020 listed on the BSE and NSE at a 118% premium. The initial public offering was offered at a lower price band of Rs 338 per share and higher price band of Rs 340 per share and found a great response from all investor categories to be subscribed over 149.14 times.

Bids of 976,426,440 shares were received against the offering of 65,47,061 shares. The portion reserved for retail investors was subscribed 40.40 times and Qualified Institutional Buyer category was subscribed 113.43 times. Non-Institutional Investor category was subscribed 450.52 times; second highest amongst the IPOs announced in FY20-21, as compared to the recent IPOs of CAMS - 111.85 times and Route Mobile - 192.81 times.

The shares of the company listed at Rs. 730.95 per share it touched a high of Rs 743.80 per share and closed at Rs. 584.80 per share on BSE. Subsequently on NSE Chemcon’s shares listed itself at Rs 731 per share and it made a high at Rs 731.25 per share and closed at Rs 584.80 per share.

The total quantity traded on NSE today was 1.57 crore with a total delivery percentage of 33.81%. The total quantity traded on BSE today was 19,44,927 with a total delivery percentage of 26.89 %.

The Market Capitalization of the Company post today’s closing price stands at Rs. 2142.16 crores as per BSE data.

Speaking on this momentous occasion - Mr. Kamalkumar Rajendra Aggarwal, Chairman & Managing Director said “ The response has been great and our commitment to the investors will definitely show greater resolve. We will continue to focus on growing our capacities and exports in the HMDS and CMIC segment as well as expand to newer products to meet import substitutions in pharma segment."

The Company  had raised 95.39 crs from 13 investors which included well known institutions such as IDFC Mutual Fund, ICICI Prudential, IIFL, HSBC Global, Mirae Asset Mutual Fund, Tata Mutual Fund amongst others before its IPO

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