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Published on 2/07/2018 3:43:11 PM | Source: Dion Global Solutions Ltd

Fine Organic Industries shares surge 4% in debut trade

Shares of chemical manufacturer Fine Organic Industries made its stock market debut today, rising 4 per cent from the issue price of Rs 783, reported PTI. The scrip listed at Rs 815, reflecting a gain of 4 per cent from the issue price on BSE. It later soared 5.10 per cent to Rs 823. At NSE, shares of the company listed at Rs 815. Its market valuation stood at Rs 2,484.07 crore.

In terms of equity volume, 6.33 lakh shares of the company were traded on BSE and over 40 lakh shares changed hands at NSE during the morning trade. The IPO of Fine Organic was open during June 20-22. The price band for the offer was fixed at Rs 780-783 per share. Fine Organic Industries initial public offer was subscribed nearly 9 times.