Godrej Agrovet makes strong debut, lists at premium 16/10/2017

Godrej Agrovet makes strong debut, lists at premium
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Godrej Agrovet, a highly diversified agri-business company, kicked-off trading on the Bombay Stock Exchange on strong note by listing at Rs 630, a 37 per cent premium against its initial public offer (IPO) price of Rs 460 per share. The company, which had got overwhelming response for its Rs 1,157 crore initial public offering that was subscribed over 95 times earlier this month, listed at premium at Rs 1,270 on the National Stock Exchange. After making a strong debut, shares of company touched an intra-day highs and lows of Rs 629.85 and Rs 563.80, before closing at Rs 595.55 on the BSE. During the day’s trade, as much as 36.77 lakh shares have changed hands on the counter. “The equity shares of Godrej Agrovet Ltd (Scrip Code: 540743) are listed and admitted to dealings on the Exchange in the list of 'B' Group Securities,” said the company in a filing to the Bombay Stock Exchange. The IPO, which was opened for public subscription from October 4-6, had fixed a price band of Rs 450-460 per equity share. A part of Godrej group, Godrej Agrovet Limited (GAVL) is an Indian animal feed and agribusiness company. Meanwhile, the broader benchmark BSE SENSEX closed at 32633.64, up by 200.95 points or by 0.62 per cent, and the NSE Nifty ended at 10230.85, up by 63.4 points or by 0.62 per cent.

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