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Shares of Anupam Rasayan opened for trading at Rs 520 on the National Stock Exchange, compared to the issue price of Rs 555, implying a discount of 6.31%.
Surat-based Anupam Rasayan India is the first IPO of the calendar year 2021 to have a negative listing. The stock opened for trading at Rs 520 on the National Stock Exchange, compared to the issue price of Rs 555, implying a discount of 6.31%. On the BSE, Anupam Rasayan India opened at Rs 534.70, at a discount of 3.66%.
The Rs 760 crore public issue received bids for 42,74,80,578 shares against 97,01,809 shares on offer, as per data available with the NSE. The issue was subscribed 44 times. The portion meant for qualified institutional buyers (QIBs) was subscribed 65.74 times, while those for non-institutional investors 97.42 times and retail individual investors (RIIs) 10.77 times.
Anupam Rasayan started operations in 1984. It currently has two business verticals, viz. life science-related specialty chemicals comprising products pertaining to agrochemicals, personal care and pharmaceuticals; and other specialty chemicals, comprising specialty pigment and dyes, and polymer additives.
The company compares itself with listed counterparts like PI Industries, Navin Fluorine International, Astec Lifesciences and SRF.
Anupam Rasayan will be the 11th issue of the calendar year 2021, after Indian Railway Finance Corporation, Indigo Paints, Home First Finance Company, Stove Kraft, Brookfield India REIT, Nureca, RailTel Corporation of India, Heranba Industries, MTAR Technologies and Easy Trip Planners.