Shares of Apex Frozen Foods that
deals in aquaculture products made a smart stock market debut
today, rising over 15 per cent against the issue price of Rs
The stock debuted at Rs 199.90, up 14.22 per cent from
the issue price on BSE. It later soared 19.91 per cent to Rs
209.85 - its upper circuit limit.
On NSE, it listed at Rs 202, reflecting a jump of 15.42
On the equity volume front, 2.35 lakh shares of the
company were traded on BSE and over 14 lakh shares changed
hands at NSE during the morning trade.
The initial public offer (IPO) of up to Rs 152 crore of
Apex Frozen Foods was oversubscribed 6.14 times.
The portion set aside for qualified institutional buyers
(QIBs) was oversubscribed 1.91 times, non-institutional
investors 7.82 times and retail investors 8.53 times.
The IPO's price band was fixed at Rs 171-175.
Proceeds from the issue will be utilised towards setting
up a new shrimp processing unit with a capacity of 20,000
tonnes per annum in Andhra Pradesh and for general corporate