Godrej Agrovet shares soar 35% in debut trade
Shares of Godrej Agrovet made a
spectacular debut at the bourses today, surging 35 per cent
over the issue price of Rs 460.
The stock listed at Rs 621, registering a sharp gain of
35 per cent from the issue price on BSE. It later soared 36.92
per cent to Rs 629.85.
At NSE, shares of the company debuted at Rs 615.60,
zooming 33.82 per cent.
In terms of equity volume, 25.94 lakh shares of the
company were traded on BSE and over one crore shares changed
hands at NSE during the day.
The company's Rs 1,157 crore IPO was a huge hit and
oversubscribed 95.41 times during October 4-6.
The price band was fixed at Rs 450-460 per share.
Proceeds of the IPO would be utilised towards repayment
of loans and other general purposes.
Kotak Mahindra Capital Company, Axis Capital and Credit
Suisse Securities (India) Pvt Ltd managed the company's issue.
Godrej Agrovet is an agri-business company with
operations across five verticals - animal feed, crop
protection, oil palm, dairy, poultry and processed foods.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.