Shares of speciality chemicals manufacturer Galaxy Surfactants surged nearly 15 per cent in its debut trade today over the issue price of Rs 1,480.
The stock listed at Rs 1,520 went up 2.70 per cent from the issue price on BSE. During the day, the stock soared 17 per cent to Rs 1,732. It finally closed at Rs 1,698.10, reflecting a gain of 14.73 per cent.
On NSE, shares of the company ended 14.89 per cent higher at Rs 1,700.45.
In terms of equity volume, 13.49 lakh shares of the company were traded on BSE and over 85 lakh shares changed hands on NSE during the day.
The company's market valuation stood at Rs 6,020.57 crore.
Galaxy Surfactants' Rs 937-crore IPO was subscribed 20 times during January 29-31.
The portion reserved for qualified institutional buyers (QIBs) was subscribed 54.27 times, non institutional investors 6.96 times and retail investors 6.01 times, as per NSE data.
The IPO was of up to 6,331,674 equity shares (including anchor portion of 18,99,500 equity shares).
The IPO was in a price band of Rs 1,470-1,480 per share.
ICICI Securities, Edelweiss Financial Services and J M Financial Institutional Securities managed the company's issue.
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