Chennai-based Chemplast Sanmar Ltd, a leading manufacturer of chemicals and allied products, saw its shares make a weak debut on stock exchanges on Tuesday morning.
The company’s shares began trading at ₹525 and were trading at lower price in the first couple of hours when compared with the upper end of the IPO price band of ₹541 per share.
Chemplast Sanmar IPO was open during August 10-12 and the company’s shares have relisted on the stock market after getting delisted from the stock exchanges about a decade ago.
The ₹3,850 crore IPO was subscribed 2.17 times. At listing, Chemplast Sanmar had a market capitalisation of little over ₹8,300 crore.