Par Drugs & Chemicals Ltd. debuts with 3.72% premium at Rs 52.90
16/05/2019 20:20
Par Drugs & Chemicals Ltd. makes a strong debut on the bourses with scrip got listed at Rs 52.90 on the Bombay Stock Exchange, a 3.72 per cent premium to its issue price of Rs 51.00. On the National Stock Exchange, the stock was listed at Rs 52.90.

The company, which raised 0.17 Cr from initial public offering, was subscribed 5.05 times, receiving bids for 84.44 lakhs shares against the total issue size of 16.72 lakhs shares.

The company, listed under ST Group Securities post its IPO, opened for subscription from May 03 to May 08.

Following a strong opening, the scrip touched an intraday high of Rs 52.90 and a low of Rs 50.30, before closing the session up by 1.07 per cent to its listing price at Rs 50.45 on the NSE.

The company anticipates using the proceeds of the issue for Funding the working capital requirements of the Company, General corporate purposes.

Pantomath Capital Advisors Pvt. Ltd. as lead managers & Link Intime India Private Limited is the registrar, to the issue.

Meanwhile, the broader benchmark NSE Nifty closed trade at 11,257.10, up 100.10 points, or 0.89 per cent.