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Shares of Astron Paper & Board Mills made a remarkable debut on the bourses today, surging over two-fold against its issue price of Rs 50. The stock opened the day at Rs 114, rising sharply by 128 per cent from the issue price on BSE. It later soared 139.4 per cent to touch a high of Rs 119.70, its upper circuit limit.
On the NSE, shares of the company debuted at Rs 115, up 130 per cent. In terms of equity volume, 5.67 lakh shares of the company were traded on BSE and over 62 lakh shares changed hands at NSE during the morning trade. The company’s IPO was subscribed 243 times during December 15-20. The issue was in a price band of Rs 45-50.
Pantomath Capital Advisors Private Limited was the book running lead manager to the offer. Incorporated in 2010, Astron Paper and Board Mills is engaged in manufacturing of kraft paper. The company has manufacturing facility in Gujarat.
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