Astec LifeSciences ends at 2% premium on BSE

The stock ended at Rs 84 - up 2.3% from its issue price. the counter witnessed hefty volumes of 12.26 million shares on BSE today.
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(Updated at 1139 hrs)

Agro-chemical and pharma company Astec LifeSciences today got listed at a premium of 4.33 per cent over its issue price of Rs 82 on the Bombay Stock Exchange.

In early trade today, the scrip opened at Rs 85.55 and surged 10.61 per cent to a high of Rs 90.70 within minutes of opening on the BSE.

The company listed over 1.69 crore shares on the bourses at an issue price of Rs 82 a piece.

On the National Stock Exchange Astec LifeSciences got listed at Rs 83, a 1.22 per cent premium over its issue price. It later scaled to a high of Rs 90.70 on the bourse.

Over 77.51 lakh shares changed hands on both the bourses.

The company raised over Rs 61 crore through an initial public offer (IPO) earlier this month which it plans to utilise for funding its expansion plans.

Astec LifeSciences is engaged in the manufacturing and sale of intermediates, active ingredients and formulations with a focus on agrochemical and pharmaceutical industry.

The scrip was later quoting at Rs 86.15, up 5.06 per cent on the BSE and with a gain of 4.87 per cent at Rs 86 on the NSE at 1026 hrs.