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Good news for traders! Listing of shares of this company at a price higher than the IPO issue price

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Mumbai: Share of Archean Chemical Industries Limited (Archean Chemical IPO) has obtained a good itemizing on Monday i.e. 21 November 2022. Shares of Archean Chemical Industries Limited (Archean Chemical IPO) are listed at Rs 449 on BSE and Rs 450 on NSE. The company had fastened an higher price of Rs 407 below the IPO. That is, after the itemizing of the shares, the traders have gotten a revenue of Rs. 42 per share. The company’s IPO was oversubscribed 32 instances.

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On the different hand, Archean Chemicals Industries Limited’s IPO is getting good response from traders even in the grey market. Shares of Archean Chemicals have been buying and selling at a premium of Rs 120-130 in the grey market. Meanwhile, the company’s shares have been anticipated to record strongly.

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32.23 instances subscribed
Archean Chemical Industries Limited’s IPO has acquired a constructive response from traders. The Rs 1,462.31 crore IPO, which closed on November 11, acquired 32.23 instances overbids. The reserved portion for QIB was subscribed 48.91 instances. The portion reserved for retail traders acquired a bid of 9.96 instances. The unlisted shares of this issue have been nicely acquired by traders in addition to in the grey market. The issue price of the IPO was Rs 386-407.

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Banged in the grey market
Shares of Archean Chemical Industries Limited IPO have been buying and selling at a premium in the grey market from the begin. Last Friday, unlisted shares of the issue traded in the grey market at Rs. 112 (Archean Chemical IPO GMP) was buying and selling at a premium. Due to this, the itemizing of the IPO in the inventory market is predicted to be at Rs 519.

386 to 407 price band fastened
Archean Chemical’s IPO has opened in the market on November 9, i.e. at this time. This is an IPO value Rs 1462 crore and was open for subscription until November 11. In this IPO, shares value Rs.657.31 crore will probably be below supply for sale. The share was seen buying and selling at a premium of round Rs 70 in the grey market.

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