Chemplast Sanmar IPO Listing

On 24th August, Chemplast Sanmar listed at a marginal premium of 1.66% on NSE, but later slipped into a discount. The stock could not hold on to the premium listing as selling pressure piled up through the day. 

The overall subscription of 2.17X in the Chemplast Sanmar IPO was tepid, especially when you consider that HNI portion was subscribed just 1.03X and QIB portion 2.70X, despite a successful anchor placement ahead of the IPO. Here is the Chemplast Sanmar listing story on 24th August.

Check: Chemplast Sanmar IPO Subscription

The IPO price was fixed at the upper end of the band at Rs.541 despite a very tepid 2.17X subscription. On 24th Aug, the stock of Chemplast Sanmar listed on the NSE at a price of Rs.550, a premium of 1.66% over the issue price. On the BSE, the stock listed at a price of Rs.525, representing listing discount of -2.96%.

On the NSE, Chemplast Sanmar closed at Rs.536, a first day closing discount of -0.92% on the issue price of Rs.541. On the BSE, the stock closed at Rs.534.90, a first day closing discount of -1.13% on the issue price. Despite the bounce from lower levels on BSE, the stock closed below the IPO price.

On Day-1 of listing, Chemplast Sanmar touched a high of Rs.550 on the NSE and a low of Rs.510. The stock traded a total of 142.54 lakh shares on NSE amounting to value of Rs.769.12 crore. In terms of traded value, Chemplast Sanmar was the sixteenth most traded stock on NSE.

On the BSE, Chemplast Sanmar touched a high of Rs.550 and a low of Rs.510.30. On BSE, the stock traded a total of 20.42 lakh shares amounting to value of Rs.110.02 crore. At the close of Day-1, Chemplast Sanmar had a market capitalization of Rs.8,457 crore with free-float market cap of just Rs.2,114 crore.