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Stock of Sharda Cropchem surged nearly 67 per cent in its debut trade as against the issue price of Rs 156 per share.
The company’s scrip debuted at Rs 254.10, reflecting a gain of 62.88 per cent, as compared to the issue price on the BSE.
On the NSE, the stock listed at Rs 260, up 66.66 per cent, from the issue price of Rs 156.
In terms of volume, 63.66 lakh shares of the company changed hands on the BSE, while over one crore shares were traded on the NSE.
The crop protection chemical company had entered the capital market early this month with its IPO of 22,555,124 equity shares of face value of Rs 10 each. The company had fixed the price band at Rs 145—156.
The company’s Rs 352-crore initial public offer (IPO) had received overwhelming response from investors and was subscribed 60 times.
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