Shree Pushkar Chemicals & Fertilisers Ltd lists on NSE&BSE

Mumbai, Sep 11, 2015

Shree Pushkar Chemicals & Fertilisers Ltd., listed today on the Indian capital markets. The stock opened at Rs. 60.05 at NSE and Rs. 60.00 at BSE. The stock was later hit an upper circuit of Rs. 63.05 at NSE and Rs. 63.00 at BSE.

On the first day of listing of Shree Pushkar Chemicals & Fertilisers Ltd., a total of 8,96,380of shares worth of Rs 54.74crorewere traded on NSE while a total of 2,50,449shares worth of 1.55croretraded on BSE.The stock has recorded a high of Rs. 63.05 and a low of Rs 60.05 on the listing day on NSE,.The stock ended the first day of listing at Rs.63 on BSE and Rs 63.05 on NSE.

The Rs70 crore Initial Public Offering (IPO) includingoffer for sale from IFCI Ventures Ltd., has received an excellent response, despite adverse market condition, from investors and was subscribed 1.403times with the application for1,51,07,600equity shares The Qualified Institutional Bidders (“QIBs”) subscription was subscribed 1.036times with the application of 55,76,600 equity shares while the non-institutional investor subscription was at 2.187times with the application of 35,33,600 equity shares. The retail subscription was 1.591times with the application of 59,97,400equity shares.

The issue opened for subscription on 25th August and closed on 27th August 2015.

Commenting on the successful listing to the IPO, Mr Punit Makharia, Chairman & Managing Director, Shree Pushkar Chemicals &Fertilisers Ltd. , said, “We are delighted with the favourable response and trust of investors in Shree Pushkar’s story which can be seen through their response to IPO and the listing. We believe this reflects strong confidence in Shree Pushkar’s differentiated strategy, capabilities to support its growing customer base and its future growth prospects.”

Keynote Corporate Services Limited was the book running lead manager to the Issue.
Corporate Comm India (CCI Newswire)