Shares of Ami Organics Ltd. surged on market debut after investors piled into the specialty chemicals maker's Rs 570-crore initial public offering.
The stock listed at Rs 925 apiece on the NSE, a 51.6% premium to its IPO price of Rs 610. It then hit an intraday high of Rs 966.7 and a low of Rs 841. It ended the session at Rs 934.5 apiece, a 53.2% premium to its IPO price.
The IPO was subscribed 64.5 times on the final day, making it the thirteenth-most subscribed issue so far this year.
The company was selling shares at Rs 603-610 apiece, seeking a market value of Rs 1,934.8 crore at the upper end of the price band.
The company joined a flurry of IPOs in the Indian market this year. The amount of money raised in IPOs in 2021 has reached nearly $10 billion (Rs 75,000 crore), already surpassing the totals of the past three years though it's only September. Newly listed Indian stocks are beating the benchmark Nifty 50 Index by the most in seven years.
Related Coverage: IPOs
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