Godrej Agrovet shares acquire 29% in stellar market debut

The share sale had seen 95 instances oversubscription


Godrej Agrovet Ipo

BS Reporter  | 

Godrej Agrovet brand

Shares of Godrej Agrovet ended with 29 per cent positive aspects throughout their buying and selling debut on Monday. The inventory ended at Rs 592 in comparison with Preliminary Public Provide (IPO) value of Rs 460 per share on the Nationwide Inventory Alternate (NSE). The inventory touched a excessive of Rs 630 and a low of Rs 563.4 on the NSE with a complete of Rs 1,441 crore value of shares altering arms. One other Rs 221 crore value of shares have been traded on the BSE the place the scrip touched a excessive of Rs 630 and a low of Rs 564.

Godrej Agrovet is a number one participant within the animal feed section and in addition has a presence in crop safety, palm oil, dairy and poultry companies.

The nice itemizing day efficiency follows stellar response to Godrej Agrovet’s Rs 1,170-crore IPO.

The share sale had seen 95 instances oversubscription.

“The corporate has a wholesome stability sheet with FY17 debt-to-equity of 0.7 instances. At higher band, the inventory is accessible at 32.1 instances of FY17 earnings,” IIFL had stated in a be aware advising it a shopper to subscribe to the providing.

Godrej Agrovet shares gain 29% in stellar market debut

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First Printed: Mon, October 16 2017. 23:48 IST

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