Chemplast Sanmar shares opens at stock market with Rs 525 apiece

Chemplast Sanmar IPO was open for trade between the slot of August 10-12. Being delisted from the stock exchanges in 2012.

On Tuesday, Chemplast Sanmar made a stale and feeble debut on stock exchanges. It also could not put forth its stance in the BSE Sensex and Nifty 50 shares which significantly remained low. Chemplast Sanmar shares were on trading at Rs 525 per share today, clearly with a whole figure dip of 3 per cent from the upper-end band at Rs 541 per share of the IPO price.

Henceforth, about today’s ratings, Chemplast Sanmar has the third current listing to trade at a discount on a listing day. The company will arrive on a listing day after CarTrade Tech and Nuvoco Vistas.

Chemplast Sanmar IPO was open for trade between the slot of August 10-12. Being delisted from the stock exchanges in 2012, Chemplast Sanmar shares have been listed again on the stock market valuations. The entity’s Rs 3,850-crore IPO was subscribed at the rate of 2.17 times. At listing, the market capitalisation ended at Rs 8,300.75 crore.

Upon successful listing, Chemplast Sanmar has joined the likes of PI Industries, SRF, Finolex Industries and Navin Fluorine International. Chemplast Sanmar is a speciality chemicals manufacturer in India with a focus on speciality paste PVC resin and custom manufacturing of starting materials and intermediates for pharmaceutical, agro-chemical and fine chemicals sectors.

With effect from June 25, 2012, June 18, 2012, and June 25, 2012, Chemplast Sanmar was out of listing from BSE, NSE and MSE respectively with effect. Chemplast Sanmar after the IPO offering witnessed a steep growth with a fall of 55 per cent from the 100 per cent ratio however, the public shareholding went up by 45 per cent.

Analysts averred that “Having a strong market position in speciality chemicals, the company is well-positioned to capture favourable industry dynamics. Also, the industry in which the company enjoys leadership position has high barriers to entry.”

Source Financial Express
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