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Godrej Agrovet makes strong debut on bourses, shares jump 37%

Indian companies have so far raised around $8 billion in IPOs this year


Animal feed producer Godrej Agrovet Ltd's shares surged as much as 37 percent on market debut on Monday after an initial public offering of about $179 million. Godrej Agrovet stock jumped to as much as 630 rupees from its IPO price of 460 rupees after raising 11.6 billion rupees in the IPO that was subscribed over 95 times earlier this month. Analysts at Angel Broking have given the stock a "subscribe" rating, considering the company's diversified business profile, decent margins, strong return ratios, healthy balance sheet and strong history of its ...

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First Published: Mon, October 16 2017. 13:24 IST