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Fine Organic ends at Rs 824 on NSE after listing with 4% premium at Rs 815

The scrip hit a high and low of Rs 833 and Rs 786 respectively in intra-day deals.

SI Reporter  |  New Delhi 

Markets, Stocks, BSE, NSE, Trade

Fine Organic Industries ended the day at Rs 824 levels on the National Stock Exchange (NSE). The stock got listed earlier in the day at Rs 815, a premium of over 4% on NSE and BSE with respect to its issue price.

The Rs 600-crore initial public offer was oversubscribed by 8.99 times during June 20-22, 2018. The reserved portion of qualified institutional buyers (QIBs) portion was subscribed 12.86 times, non-institutional investors 21.01 times and retail investors 1.62 times.

The price band for the offer was fixed at Rs 780-783 per share. JM Financial and Edelweiss Financial Servicesmanaged the issue.

The IPO comprises of offer for sale of 76,64,994 equity shares by the promoter group selling shareholders who are Prakash Damodar Kamat, Mukesh Maganlal Shah, Jyotsna Ramesh Shah, Jayen Ramesh Shah, Tushar Ramesh Shah and Bimal Mukesh Shah.

has three production facilities in Ambernath, Badlapur, and Dombivali in Maharashtra. As of Dec 31, 2017, these three facilities have a combined installed capacity of approximately 64,300 tonnes per annum. Currently, the company has a 387 different range of products. These are sold under the ‘Fine Organics’ brand. Further, the company has a subsidiary in Europe and North America, and it sells directly to selected large direct customers.

First Published: Mon, July 02 2018. 15:45 IST