Agro Phos India SME makes strong debut on NSE

Fertiliser manufacturer Agro Phos India, which recently garnered a whopping subscription of over Rs 225 crore, got listed on NSE's small and medium enterprise platform today.
The shares got listed at Rs 26.40 apiece on the Emerge Platform of NSE, which was 20 per cent higher from the issue price of Rs 22. It closed at Rs 22.85 apiece.
The company came out with a public offering of 58,80,000 equity shares with a price band of Rs 19-22 per equity share on Emerge Platform of NSE.
The issue was over-subscribed by more than 17 times of the total shares offered, which was also the highest-ever subscription for an SME IPO. It was opened for subscription between October 27 and November 7.

Incorporated in 2002, Indore-based Agro Phos India is engaged in the manufacturing of fertilisers such as single super phosphate, nitrogen phosphate and potassium, zinc sulphate, organic manure and calcium sulphate, commonly known as soil conditioner or gypsum.