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Apex Frozen locked in upper circuit for third day; up 34% over IPO price

The stock was up 5% at Rs 234 on NSE.

SI Reporter  |  Mumbai 

Frozen foods

is locked in upper circuit of 5% at Rs 234 on the National Stock Exchange (NSE), with no sellers witnessed on the counter. The stock has frozen maximum upper limit of the day for third straight trading sessions since its listing on September 4, 2017.

The company engaged in aquaculture products business is currently trading 34% higher against its initial public offer price of Rs 175 per share.

The stock made a stellar debut on the bourses on Monday by listing at Rs 202 on NSE, 15% premium to its issue price. It rallied as much as 20% against issue price to hit its upper circuit of Rs 212.10.

On Monday, September 4, Girik Wealth Advisors Private Ltd PMS had bought 311,077 shares of at Rs 211.91 per share. Tantallon India Fund purchased 180,825 shares at Rs 210.78 per share, the NSE bulk deal data shows.

BNP Paribas Arbitrage sold 200,000 shares of at Rs 211.95 per share. The names of the other sellers were not ascertained immediately.

The stock has been admitted to dealings on the exchange in trade-to-trade segment (T group) for 10 trading days. The trade-for-trade segment does not allow speculative trading and makes delivery of shares and payment of consideration amount mandatory.

The trading in the equity shares of shall be transferred to rolling segment with effect from September 18, 2017. Accordingly, the dealings in the equity shares of the company will be shifted under B group, BSE said in notice.

Till 01:00 pm; a combined 71,360 equity shares changed hands on the counter on BSE and NSE. There were pending buy orders for 614,757 shares on both the exchanges.

First Published: Wed, September 06 2017. 13:03 IST