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Dec 29, 2017 11:41 AM IST | Source:

Bumper Listing: Astron Paper and Board Mills debuts with 141% premium

The initial public offer (IPO) was oversubscribed 243.20 times.

Shares of Astron Paper and Board Mills saw a bumper listing on Friday as the stock debut with a premium of 141 percent.

The stock traded at a high point of Rs 120.75 on the NSE.

The initial public offer (IPO) was oversubscribed 243.20 times so far on the last day of bidding.

The IPO to raise Rs 70 crore received bids for 3,40,48,47,040 shares against the total issue size of 1,40,00,000 shares, data available with the NSE till 2000 hrs showed.

The qualified institutional buyers (QIBs) portion got oversubscribed 103.36 times, non institutional investors 396.99 times and retail investors 76.26 times, merchant banking sources said. The issue is in the price band of Rs 45-50.

Pantomath Capital Advisors Private Limited is the book running lead manager to the offer.

Incorporated in 2010, Astron Paper and Board Mills' is engaged in manufacturing of kraft paper.

The company has manufacturing facility in Gujarat.

Watch accompanying video of Parth Patel, CFO of Astron Paper & Board Mill for more details.
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