Shares of speciality chemicals manufacturer Galaxy Surfactants rose by 3 per cent in its debut trade today over its issue price of Rs 1,480. The stock listed at Rs 1,520, a gain of 2.70 per cent from the issue price on BSE.
It later soared 13.64 per cent to Rs 1,682. On NSE, shares of the company opened at Rs 1,525, a premium of 3 per cent over the issue price. The company's market valuation stood at Rs 5,768.49 crore. Galaxy Surfactants' Rs 937-crore IPO was subscribed 20 times during January 29-31. The portion reserved for qualified institutional buyers (QIBs) was subscribed 54.27 times, non institutional investors 6.96 times and retail investors 6.01 times, as per NSE data. The IPO was of up to 6,331,674 equity shares (including anchor portion of 18,99,500 equity shares). The IPO was in a price band of Rs 1,470-1,480 per share. ICICI Securities, Edelweiss Financial Services and J M Financial Institutional Securities managed the company's issue.
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