New Delhi: Shares of Ambe Laboratories on Thursday made a notable debut on NSE SME with a premium of 30 per cent against the issue price of Rs 68.
The group's stock was listed at Rs 85, representing a gain of 25 per cent over the issue price. Later, the stock rose 5 per cent - its upper circuit limit - to close at Rs 89.25 on the exchange.
At market close, the market valuation of the company stood at Rs 222.65 crore.
In terms of volume, 22.30 lakh shares of the company were traded during the day.
Ambe Laboratories' initial public offering (IPO) on Monday was subscribed over 173.18 times on the last day of the offer amid enthusiastic participation from institutional investors.
The Rs 44.68 crore IPO is a combination of a fresh issue of 62.58 lakh shares, aggregating to Rs 42.55 crore and an offer for sale of 3.12 lakh shares, aggregating to Rs 2.12 crore.
The price range for the public issue was Rs 65-68 per share.
The net proceeds from the issue will be used by the company to meet the working capital requirements of the business, while the remaining capital will be used for general corporate purposes.
Established in 1985, Ambe Laboratories manufactures agrochemical products for crop protection at its manufacturing facility in Rajasthan.
The company is promoted by Archit Gupta, Arpit Gupta, Sarina Gupta and Rishita Gupta.
The group's stock was listed at Rs 85, representing a gain of 25 per cent over the issue price. Later, the stock rose 5 per cent - its upper circuit limit - to close at Rs 89.25 on the exchange.
At market close, the market valuation of the company stood at Rs 222.65 crore.
In terms of volume, 22.30 lakh shares of the company were traded during the day.
Ambe Laboratories' initial public offering (IPO) on Monday was subscribed over 173.18 times on the last day of the offer amid enthusiastic participation from institutional investors.
The Rs 44.68 crore IPO is a combination of a fresh issue of 62.58 lakh shares, aggregating to Rs 42.55 crore and an offer for sale of 3.12 lakh shares, aggregating to Rs 2.12 crore.
The price range for the public issue was Rs 65-68 per share.
The net proceeds from the issue will be used by the company to meet the working capital requirements of the business, while the remaining capital will be used for general corporate purposes.
Established in 1985, Ambe Laboratories manufactures agrochemical products for crop protection at its manufacturing facility in Rajasthan.
The company is promoted by Archit Gupta, Arpit Gupta, Sarina Gupta and Rishita Gupta.
