Galaxy Surfactants lists at 3% premium

There is a new listing on the bourses today – Galaxy Surfactants. And it has made a very smart debut.

As against the IPO price of Rs.1480, the stock got listed on the BSE at Rs.1520, a premium of almost 3%.

The IPO was subscribed 20 times, with the giant portion of the issue being cornered by qualified institutional buyers (QIBs) at 54.27 times. Retail participation was also good at 6.01 times and HNIs at 6.96 times.

In our IPO Analysis we had said, “Extensive manufacturing capabilities, healthy earnings growth, consistent margins and reasonable pricing make the issue a subscribe. While listing gains is a function on market sentiments post budget, probability of the stock rewarding over the long term gains looks high.”