 "S H Kelkar and Company hits new high since listing")
Shares of S H Kelkar and Company have moved higher by 11% to Rs 243, its highest level since listing on November 11, on the National Stock Exchange (NSE).
The stock appreciated 35% against its issue price of Rs 180 per share. The company, largest fragrance players, had raised Rs 508 crore through initial public offer (IPO) which had received an overwhelming response from investors and was over-subscribed 19.74 times.
The company plans to utilise funds from the fresh issue towards repayment of loan and for other general corporate purpose.
Blackstone Capital Partners (Singapore) VI FDI Two PTE Ltd held 21.50% stake in S H Kelkar and Company as of November 10, the shareholding pattern data shows.
Smallcap World Fund Inc and T Rowe Price International Discovery Fund held 1% stake each in the company.
The trading volumes on the counter has surged more than six-fold. A combined 3.55 million shares representing 2.4% of total equity of S H Kelkar and Company have changed hands on the NSE and BSE.
At 02:59 pm, the stock was up 8% at Rs 237 on the NSE as compared to 0.79% rise in the Nifty 50.
The stock appreciated 35% against its issue price of Rs 180 per share. The company, largest fragrance players, had raised Rs 508 crore through initial public offer (IPO) which had received an overwhelming response from investors and was over-subscribed 19.74 times.
The company plans to utilise funds from the fresh issue towards repayment of loan and for other general corporate purpose.
Blackstone Capital Partners (Singapore) VI FDI Two PTE Ltd held 21.50% stake in S H Kelkar and Company as of November 10, the shareholding pattern data shows.
Smallcap World Fund Inc and T Rowe Price International Discovery Fund held 1% stake each in the company.
The trading volumes on the counter has surged more than six-fold. A combined 3.55 million shares representing 2.4% of total equity of S H Kelkar and Company have changed hands on the NSE and BSE.
At 02:59 pm, the stock was up 8% at Rs 237 on the NSE as compared to 0.79% rise in the Nifty 50.
