Archean Chemical shares climb 12.5 pc in debut trade

Shares of the firm ended at Rs 457.95 apiece, a jump of 12.51 per cent.On the NSE, shares of the firm listed at Rs 450, reflecting a premium of 10.56 per cent.

Shares of Archean Chemical Industries Ltd ended with 12.5 per cent premium in its debut trade on Monday against the issue price of Rs 407.

The stock made its debut at Rs 449, higher by 10.31 per cent on the BSE. During the day, it jumped 16.96 per cent to Rs 476.05. Shares of the firm ended at Rs 457.95 apiece, a jump of 12.51 per cent.

On the NSE, shares of the firm listed at Rs 450, reflecting a premium of 10.56 per cent. It ended at Rs 458 per share, rallying 12.53 per cent.

In volume terms, 11.19 lakh shares of the firm were traded on the BSE and over 2.21 crore shares on the NSE during the day.

The company commanded a market valuation of Rs 5,635.21 crore on the BSE.

The Initial Public Offering (IPO) of Archean Chemical Industries was subscribed 32.23 times earlier this month.

The IPO had a fresh issue of equity shares aggregating up to Rs 805 crore and an Offer For Sale (OFS) of up to 1.61 crore shares by the promoter and investors.

The price range for the offer was at Rs 386-407 per share.