Chemplast Sanmar shares makes weak debut, opens at Rs 525 apiece

Chemplast Sanmar shares are back on the stock market after being taken out in 2012. The company joined in the game once again but with a weak comeback.

Chemplast Sanmar shares are back on the stock market after being taken out in 2012. The company joined in the game once again but with a weak comeback. On 24 August the organisation listed its shares and started its trading at Rs 525 daily. Which is 3 per cent less than the IPO band of Rs 541 per share. On a listing day, the company scored to be 3 organisations to give out trades at a discounted price after CarTrade Tech and Nuvoco Vistas.

The company IPO was on during August 10-12. The Rs 3,850-crore IPO was subscribed 2.17 times. Chemplast Sanmar had a market profit of Rs 8,300.75 crore. Upon delivering the comeback the organisation has come to notice of companies like PI industries SRF, Finolex Industries and Navin Fluorine International.

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The company manufactures chemicals in India in consideration of paste PVC resin and custom manifestation of raw materials for the pharmaceutical, agro-chemical and fine chemicals sectors.

The total net profits from the PVC resin gained was about 78 KTPA against a demand of 143 KTPA. As the company was delisted in 2012 as the groups shareholding dropped to 55 per cent from 100 per cent and public sharing had an increment of 45 per cent, post-IPO.