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  1. Galaxy Surfactants gains nearly 15 per cent in strong debut

Galaxy Surfactants gains nearly 15 per cent in strong debut

Shares of speciality chemicals manufacturer Galaxy Surfactants surged nearly 15% in its debut trade on Thursday over the issue price of Rs 1,480.

By: | Mumbai | Published: February 9, 2018 3:24 AM
Galaxy Surfactants, chemicals manufacturer, speciality chemicals manufacturer, Galaxy Surfactants shares, Galaxy Surfactants trade, Galaxy Surfactants debut trade, Galaxy Surfactants share issue price, Galaxy Surfactants stocks, Galaxy Surfactants share list, Galaxy Surfactants stock list, stock market The object of the issue was to achieve benefits of listing along with providing liquidity to its shareholders. (Reuters)

Shares of speciality chemicals manufacturer Galaxy Surfactants surged nearly 15% in its debut trade on Thursday over the issue price of Rs 1,480. The stock listed at Rs 1,520 went up 2.70% from the issue price on BSE. The stock recorded an intra-day high of Rs 1,732 and a low of Rs 1,520 on the BSE. It closed at Rs 1,698.10, a gain of 14.73%. On NSE, shares of the company ended 14.89% higher at Rs 1,700.45. The initial public offering (IPO) of Galaxy Surfactants was subscribed by 19.86 times, with investors bidding for 8.80 crore shares against the 0.44 crore shares offered, at the close of the offer on 31st January. The IPO price band was Rs 1,470-1,480 per share, and the offer was priced at the upper band. On January 25, Galaxy Surfactants raised Rs 281.13 crore from 33 anchor investors by allotting 18.9 lakh shares. Anchor Investors include HDFC Equity Savings Fund, ICICI Prudential Equity Income Fund, Abu Dhabi Investment Authority, HSBC Global Investment Funds, SBI Equity Opportunities, DSP Blackrock Microcap Fund, Kuwait Investment Authority Fund, Reliance Capital Trustee and Kotak Monthly Income Plan, among others. Galaxy Surfactants raised Rs 937 crore from its initial public offering (IPO).

The object of the issue was to achieve benefits of listing along with providing liquidity to its shareholders. The issue consisted of an offer for sale (OFS) of up to 63.31 lakh equity shares of face value of Rs10 each, including by the promoters. Galaxy Surfactants is a manufacturer of surfactants and other ingredients for the personal and home care industries. The company’s profit for the year ended 31 March, 2017 was Rs 146.3 crore against Rs 102.7 crore for the previous financial year.

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