Home / Markets / News / Archean Chemical gains 12% on debut, shares worth Rs 1,014 cr traded

Archean Chemical gains 12% on debut, shares worth Rs 1,014 cr traded

The stock hit a high of Rs 476 and a low of Rs 440.2 on NSE; firm's IPO was subscribed 32 times

Between December 2020 and February 2021, traders were supposed to maintain at least 25 per cent of the peak margin

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During the first quarter of FY23, Archean Chemical had posted net profit of Rs 84 crore on revenues of Rs 400 crore

2 min read Last Updated : Nov 21 2022 | 11:39 PM IST

Shares of Archean Chemical Industries gained more than 12 per cent during their stock market debut on Friday. Shares of the specialty chemical manufacturer finished at Rs 458, up Rs 51, or 12.53 per cent, over its issue price of Rs 407 per share.

During intraday trade, the stock hit a high of Rs 476 and a low of Rs 440.2 on the NSE, where Rs 1,014 crore worth of shares changed hands. Archean’s Initial public offering (IPO) had garnered 32 times subscription. Through the IPO, the company had raised Rs 805 crore of fresh capital to pare its debt. Its

Topics : Chemical industry stock markets NSE Share price stock market trading Indian stock markets chemicals companies Chemical sector Chemical Technology Indian market

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