MUMBAI: Drug firm Claris Lifesciences Initial Public Offering (IPO), debuted on bourses on Monday (December 20). The shares of Claris Lifesciences listed at Rs. 224.4 on BSE. The price of the shares is 1.57 percent down from its issue price of Rs 228 a share.
The company which has sold 10.78 million shares through its initial public offer (IPO) had priced the IPO at the lower end of Rs. 228-235 per share price band. Shares of Claris Lifesciences were trading at Rs. 211.30 at 10:20 IST on BSE, in a weak Mumbai market.
So far, the stock hit a high of Rs. 224.40 and a low of Rs. 200.05. On BSE, 1.88 lakh shares were traded on the counter. Enam Securities, Edelweiss Capital, JM Financial Consultants and ICICI Securities were the arrangers to the issue.
Claris Lifesciences
The IPO of Claris Lifesciences, was subscribed just 1.5 times after the company lowered the original price band which was Rs 278-Rs 293 per share to Rs 228-235 per share due to the poor response from investors. The company even extended the closing date to December 2. Originally it was to end on 26 November 2010.
The downward revision of price band was due to the poor market condition and lukewarm response from the investors as the IPO got bids for 1.61 crore shares, compared with 1.07 crore shares on offer.
The qualified institutional investors (QIB) category was subscribed 1.31 times, the non-institutional investors category, comprising high networth individuals and corporates, was subscribed 2.03 times and the retail investors portion was subscribed 1.6 times.
Claris Lifesciences is one of the largest sterile injectables pharmaceutical companies in the country. The Ahmedabad-based firm, Claris Lifesciences plans to utilize the IPO proceeds to set up a new manufacturing unit, a research and development unit and for pre-payment of a term loan.
Related News:
- Claris Lifesciences IPO Subscribed Just 9%, to Close Today MUMBAI: Ahmedabad-based sterile injectable manufacturer, Claris Lifesciences Initial Public Offer…
- MOIL Listed on Bourses at Rs. 565 MUMBAI: The much awaited Initial Public Offering (IPO) of Manganese…
- Punjab Sind Bank IPO Subscribed 50 Times on Last Day, Retail 29 Times MUMBAI: Coal India and Manganese Ore gains have really boosted…
- Gravita India Makes Debut on Bourses, Share Listed at Rs. 201.10 MUMBAI: A manufacturer of lead metal, Gravita India had made…
- MOIL IPO Retail Portion Subscribed More than 20 Times on Last Day MUMBAI: Seems like the overwhelming response from the retail investors…
- Check your MOIL IPO Allotment Status MUMBAI: Manganese Ore India Ltd. (MOIL) Initial Public Offering (IPO)…
- MOIL IPO Subscribed 28.33 Times on Day 3, Retail Portion 6.72 Times MUMBAI: Manganese Ore India (MOIL) Initial Public Offering (IPO) has…
- MOIL IPO Subscribed 0.20 Times on Day 1 Till 4 PM MUMBAI: The Initial Public Offering (IPO) of state-run MOIL (Manganese…
- RPP Infra Debut on Bourses, Touches High of Rs 80.5 Low Rs 69.75 MUMBAI: RPP Infra Projects Ltd made a debut on stock…
- Coal India’s $3.5 Billion IPO, Subscribed Over 15 Times Mumbai: The initial public offer (IPO) of India’s largest coal…
Open all references in tabs: [1 – 10]