Moneycontrol
Last Updated : Jul 02, 2018 10:15 AM IST | Source: Moneycontrol.com

New Listing: Fine Organics lists with 4% premium at Rs 815 on NSE

The stock listed at Rs 815 apiece, a premium of Rs 32 to the issue price of Rs 783, on the exchange.

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Shares of Fine Organics, on Monday, listed with a premium of over 4 percent on the National Stock Exchange (NSE).

The stock listed at Rs 815 apiece, a premium of Rs 32 to the issue price of Rs 783, on the exchange.

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 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.

Fine Organic is the largest manufacturer of oleochemical-based additives in India and a strong player globally in this industry, according to CRISIL Research Report.

It produces a wide range of specialty plant derived oleochemical-based additives used in food, plastic, cosmetics, paint, ink, coatings and other specialty application in various industries.

JM Financial and Edelweiss Financial Services were the book running lead managers to the issue.
First Published on Jul 2, 2018 10:15 am
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