The fragrance maker’s Rs 500-crore initial public issue (IPO) which closed last month had received an overwhelming response from investors and was over-subscribed 27.08 times.
Shares of S H Kelkar and Company got listed on the stock exchanges on Monday at an opening price of Rs 222 on BSE and at Rs 223.70 on NSE. The shares opened at a premium of 23 per cent from its issue price of Rs 180 per share.
At 10.04 am, shares were trading at Rs 209.60 on BSE. On NSE, it was trading at 210.55.
The price band for the IPO was fixed at Rs 173-180 per share. The company had fixed the issue price at Rs 180 per share, the upper end of the price band.
The fragrance maker’s Rs 500-crore initial public issue (IPO) which closed last month had received an overwhelming response from investors and was over-subscribed 27.08 times.
This was the fourth IPO this year, after VRL Logistics, Power Mech Projects and Syngene International, to receive such a strong response in terms of subscription.
With agency inputs
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