Galaxy Surfactants makes a decent debut; stock up 13% against issue price

Galaxy Surfactants, speciality chemicals manufacturer, made a decent debut on Thursday, listing at Rs 1,520 on BSE, a premium of 2.70 per cent over its issue price of Rs 1,480.

The stock gained as much as 13 per cent to Rs 1673.65 againt issue price on the BSE. 

Galaxy Surfactants' Rs 937-crore IPO was subscribed 20 times during January 29-31. 

The portion reserved for qualified institutional buyers (QIBs) was subscribed 54.27 times, non institutional investors 6.96 times and retail investors 6.01 times, as per NSE data. 

The IPO was of up to 6,331,674 equity shares (including anchor portion of 18,99,500 equity shares). 

The IPO was in a price band of Rs 1,470-1,480 per share. 

ICICI Securities, Edelweiss Financial Services and J M Financial Institutional Securities managed the company's issue.