Archean Chemical, Five Star Business Finance IPOs Listing: Shares of Five Star Business Finance and Archean Chemical have been listed in the stock market today. Shares of Archean Chemical are listed on BSE and NSE today with a premium of around 11 per cent.
The listing price of shares of Archean Chemical Industries
Shares of Archean Chemical Industries made a positive start today and its shares are listed on NSE at Rs 450 per share. At the same time, its shares are listed on BSE at Rs 449 per share. The issue price of the shares of this company was Rs 407 per share and in front of it this listing of Rs 450 has been done at 11% premium.
IPO details of Archean Chemical Industries
Archean Chemical Industries has raised a total of Rs 1,462 crore during the IPO from 9 November to 11 November. The company had fixed the price band of the IPO between 386 to 407. New shares worth Rs 805 crore were issued in the IPO, while 1.61 crore shares were sold by the promoter of the company. In this, Chemikar Specialty has sold shares worth Rs 20 lakh, Piramal Natural Resources Rs 38.35 lakh and Resurgence Fund Rs 38.35 lakh. In this IPO, the company had reserved 75 per cent for qualified institutional investors, 15 per cent for non-institutional buyers and 10 per cent for retail investors.
Weak listing of Five Star Business Finance
Another company Five Star Business Finance was also listed today and it has disappointed investors with its weak listing. Shares of Five Star Business Finance are listed at a discount on NSE and BSE today. Shares of Five Star Business Finance were listed at Rs 464 on the NSE as against the issue price of Rs 474 in its IPO. In this way, the listing of the shares of the company has been done with a discount of 2%. Shares of Five Star Business Finance were trading at Rs 449 in early trade.