Today, equity shares of Aster Silicates got listed at the bourses. The Shares of the company got listed at Rs 128.05, a premium of 8.51% as against the issue price of Rs 118 a share on NSE.
At present, the shares of the company are trading at Rs 129.80, 10% higher than its issue price on the NSE. A total of 4.18 mn equity shares have exchanged hands. At 9:20 am, the scrip has touched a high of Rs 131.10 and a low of Rs 123.40.
The Ahmedabad-based firm will use the profits for growing its manufacturing amenities at Baruch, in Gujarat. Saffron Capital Advisors is the book running lead manager for the issue. Aster Silicates has been concerned in producing food grade sodium silicate for the last 14 years, which is used by the toothpaste, salt, cosmetics, pesticides tyre and rubber industries.
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