Archean Chemical Listing Price, Good News for Investors! Archean chemical shares list at premium over IPO issue price
On the other hand, Archean Chemicals Industries Limited’s IPO is getting good response from investors even in the gray market. Shares of Archean Chemicals were trading at a premium of Rs 120-130 in the gray market. Meanwhile, the company’s shares were expected to list strongly.
32.23 times subscribed
Archean Chemical Industries Limited’s IPO has received a positive response from investors. The Rs 1,462.31 crore IPO, which closed on November 11, received 32.23 times overbids. The reserved portion for QIB was subscribed 48.91 times. The portion reserved for retail investors received a bid of 9.96 times. The unlisted shares of this issue were well received by investors as well as in the gray market. The issue price of the IPO was Rs 386-407.
Banged in the gray market
Shares of Archean Chemical Industries Limited IPO were trading at a premium in the gray market from the start. Last Friday, unlisted shares of the issue traded in the gray market at Rs. 112 (Archean Chemical IPO GMP) was trading at a premium. Due to this, the listing of the IPO in the stock market is expected to be at Rs 519.
386 to 407 price band fixed
Archean Chemical’s IPO has opened in the market on November 9, i.e. today. This is an IPO worth Rs 1462 crore and was open for subscription till November 11. In this IPO, shares worth Rs.657.31 crore will be under offer for sale. The share was seen trading at a premium of around Rs 70 in the gray market.