Shares of India Pesticides opened for trading at Rs 360 on the BSE, compared to the issue price of Rs 296, at a premium of 21.62%
The Rs 800-crore IPO received bids for 56,07,11,650 shares against 1,93,10,345 shares on offer, as per NSE data
In the grey market, shares of India Pesticides were quoting at Rs 341-344 (today at 10:40 am) implying a premium of 15-16%
The company has fixed a price band of Rs 290-296 a share for the IPO, which will open on June 23 and conclude on June 25
Proceeds of the fresh issue would be used towards funding the working capital requirements and general corporate purposes
India Pesticides has fixed a price band of Rs 290-296 a share for the upcoming initial share sale
The agrochemicals manufacturer plans to raise Rs 800 crore through the public listing of shares
The company may decide to undertake a pre IPO placement of 75 crore subject to consultation of the merchant bankers
India Pesticides on Wednesday filed the draft red herring prospectus (DRHP) for Rs 800 crore initial public offering (IPO).