Stock Markets LISTINGS Today
Archean Chemical, Five Star Business Finance IPOs Listing: Shares of Archean Chemical and Five Star Business Finance made their stock market debut today. While Archean Chemical, made a positive debut at a premium of 10 per cent, Five Star Business Finance is listed at a discount. Zee Business Managing Editor Anil Singhvi had advised investors to keep a stop loss of Rs 450 for Five Star Business Finance.
The Archean Chemical stock was trading at Rs 463.65, up Rs 56.65 or 13.92 per cent. The stck was listed at a price of Rs 450 against the issue price of Rs 407. Meanwhile, Five Star Business Finance shares were trading at Rs 465.80 on NSE, down by Rs 8.20 or 1.73 per cent around this time. Against the issue price of Rs 474, the stock was listed at Rs 468.80.
Ahead of IPO, Archean Chemical has raised Rs 1,462 crore at the upper end of the price band of Rs 386-407 per share, Five Star mobilised around Rs 1,590 crore at Rs 474 per share. Archean is focused on producing and exporting bromine, industrial salt, and sulphate of potash. IIFL Securities, ICICI Securities and JM Financial are the book-running lead managers to the IPO.
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