Shares of Apex Frozen Foods that deals in aquaculture products made a smart stock market debut today, rising over 15 per cent against the issue price of Rs 175.
The stock debuted at Rs 199.90, up 14.22 per cent over the issue price on the BSE. It later soared 19.91 per cent to Rs 209.85 — its upper circuit limit. On the NSE, the stock got listed at Rs 202, reflecting a jump of 15.42 per cent.
On the equity volume front, 2.35 lakh shares of the company were traded on the BSE and over 14 lakh shares changed hands on the NSE during the morning trade.
The initial public offer (IPO) of up to Rs 152 crore of Apex Frozen Foods was oversubscribed 6.14 times. The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 1.91 times, non-institutional investors 7.82 times and retail investors 8.53 times.
The IPO’s price band was fixed at Rs 171-175. Proceeds from the issue will be utilised towards setting up a new shrimp processing unit with a capacity of 20,000 tonnes per annum in Andhra Pradesh and for general corporate purposes.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.