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26 October, 2020 09:41 IST
Astron Paper & Board Mill settles 141.5% higher on listing day
Source: IRIS | 29 Dec, 2017, 04.18PM
Rating: NAN / 5 stars.
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Astron Paper & Board Mill, which got listed on the bourses today, settled at a premium of 141.50% (2.41 times) over its issue price.  At the NSE, stock closed at Rs 120.75 a share as against issue price of Rs 50 a share and 139.40% on Bombay Stock Exchange.

Shares recorded a high of Rs 120.75 and a low of Rs 112.50 after opening at Rs 115 that is 130% premium over its issue price. 

Pantomath Capital Advisors Private was the book running lead manager to the offer.

Kirit G Patel, CMD, Astron Paper and Board Mill, said, ''We are overwhelmed by the response we received from the investors for our IPO. It is a matter of honour for us at to be a part of the popular stock exchanges. This would not have been possible without the trust shown by our investors.''

''We feel highly elated with an applaudable listing of Astron Paper with record over-subscription in any Main Board IPO of more than Rs 500 million (in number terms). The scale and reach that Astron Paper has achieved reflect its immense potential and proficiency. With the listing of record 36 companies and fundraising of Rs 669 billion, the year 2017 witnessed more fund-raising than aggregate fundraising during past five years cumulatively. The year 2017 has been pinnacle in primary market and we expect this trend to continue in 2018 as well,'' remarked Mahavir Lunawat, Group Managing Director, Pantomath Capital Advisors Pvt, Lead Managers to Astron Paper and Board Mill IPO.

The year 2017 has been a historic one for initial public offerings (IPOs) on Dalal Street, with as many as 36 issues hitting the stock market and fundraising Rs 669 billion. From the first IPO of 2017 i.e. BSE Ltd to the endmost  IPO Astron Paper, initial public offerings soared the Dalal Street with record-breaking subscriptions and bumper listing gains to the investors. From GIC, biggest IPO to Salasar Techno, the smallest IPO of 2017, and IPO market has not disappointed investors.

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