Godrej Agrovet declines 4% after strong debut
The Rs 1,157 crore issue, which ran from October 4 to October 6, was sold in the price band of Rs 450-Rs 460.
By ETMarkets.com | Updated:
NEW DELHI: Shares of Godrej Agrovet plunged as much as 4 per cent on Monday after opening 35 per cent premium to its issue price of Rs 460.
The stock fell 4.10 per cent to end at Rs 583.50 on BSE. It opened at Rs 621 and touched an intraday high and low of Rs 629.85 and Rs 563.80, respectively.
The Rs 1,157 crore issue, which ran from October 4 to October 6, was sold in the price band of Rs 450-Rs 460. The IPO received overwhelming response from investors as the issue was oversubscribed 95.41 times.
Also Read: Godrej Agrovet lists at 35% premium to issue price
Quota for qualified institutional buyers (QIBs) was subscribed 150.96 times, while non-institutional investors was subscribed 236.04 times and retail investors 7.67 times.
In four years to FY17, the company’s top line and bottom line grew at a compounded annual growth rate of 12.2 per cent and 27.3 per cent, respectively.
The stock fell 4.10 per cent to end at Rs 583.50 on BSE. It opened at Rs 621 and touched an intraday high and low of Rs 629.85 and Rs 563.80, respectively.
The Rs 1,157 crore issue, which ran from October 4 to October 6, was sold in the price band of Rs 450-Rs 460. The IPO received overwhelming response from investors as the issue was oversubscribed 95.41 times.
Also Read: Godrej Agrovet lists at 35% premium to issue price
Quota for qualified institutional buyers (QIBs) was subscribed 150.96 times, while non-institutional investors was subscribed 236.04 times and retail investors 7.67 times.
In four years to FY17, the company’s top line and bottom line grew at a compounded annual growth rate of 12.2 per cent and 27.3 per cent, respectively.
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