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Chemplast Sanmar’s weak start in the stock markets

Shares of specialty chemicals company Chemplast Sanmar had a weak start in the stock markets on Tuesday. The company’s shares got listed at a loss of three per cent on the issue price.

Shares of the company opened at Rs 525 with a loss of 2.95 per cent on its issue price on BSE. The company’s stock went up to a high of Rs 550 in morning trade. It also came down to a low of Rs 510.

However, the company’s stock got listed on the National Stock Exchange with a gain of 1.66 per cent over its issue price at Rs 550. It came down to a low of Rs 510 in morning trade. It even went as high as Rs 550.

In the same month, the initial public offering (IPO) of Chemplast Sanmar received bids for 8,66,38,140 shares against an offer of 3,99,52,829 shares.

Issued new shares worth Rs 1,300 crore under the company’s Rs 3,850 crore IPO. Apart from this, an offer for sale (OFS) of Rs 2,550 crore was brought.