Solidarity Advisors Private Limited purchased 1,26,297 shares of Neogen Chemicals at Rs 329.62 per share on the NSE.
Neogen Chemicals had a strong debut on Wednesday, closing 23 percent higher over issue price. Ganesh Trading Investment bought 1.25 lakh shares of the company at Rs 253.4 per share.
At closing price, Neogen's market capitalisation stood at 614.98 crore
Thanks to the heavy buying, the stock was locked at 5 percent upper circuit
The issue price is fixed at higher end of price band of Rs 212-215 per share.
The reserved portion for qualified institutional buyers has seen subscription of 30.49 times and non-institutional investors 113.88 times while retail category oversubscribed 16.06 times so far.
The reserved portion for qualified institutional buyers was subscribed 95 percent and for non-institutional investors was 1.12 times while retail individual investors' category has seen subscription of 3.15 times.
Mehta Equities has come out with its report on Neogen Chemicals. The research firm has recommended to "Subscribe'' the IPO in its research report as on April 25, 2019
Anand Rathi said higher multiple is justified given the company’s ability to grow profitably and command better return ratios. Hence it recommended subscribing the issue
The IPO will be open from April 24-26 in a price band of Rs 212-215 per share, it added.
Neogen Chemicals (NCL) is manufacturers of bromine-based, and lithium-based, specialty chemicals
Choice Broking has come out with its report on Neogen Chemicals. The research firm has recommended to "Avoid'' the IPO in its research report as on April 22, 2019
With this, the total number of company getting Sebi's clearance for the public issues -- initial public offer (IPO) and follow on public offer (FPO) -- has reached to seven, so far in the new year.
The initial share sale comprises fresh issuance of shares aggregating up to Rs 70 crore and an offer for sale of up to Rs 29 lakh by the company's promoters, according to the draft red herring prospectus (DRHP) filed with Sebi.