Rakesh Jhunjhunwala stock: This Big Bull-backed recently listed chemical share jumped 200% from issue price

This Rakesh Jhunjhunwala-backed newly listed speciality chemical company, Jubilant Ingrevia, shares have surged over 200 per cent against its listing price of Rs 258.35 per share on March 19, 2021.

An ace investor Rakesh Jhunjhunwala along with his wife Rekha jointly hold 10,020,000 shares, translating into a 6.29 per cent stake in the company with an investment of over Rs 750 crore.

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The company is the demerged pharma and life sciences business of Jubilant Lifesciences. Jubilant Lifesciences demerged Jubilant Ingrevia this year, and later renamed itself Jubilant Pharmova.  

Rakesh Jhunjhunwala, who is also termed as the Big Bull of the Indian stock market, also held 10,020,000 shares in Jubilant Pharmova, a sister firm of Jubilant Ingrevia, with an investment of Rs 600 crore.

Jubilant Ingrevia shares in the last three months have jumped around 40 per cent, while it touched Rs 803.35 per share as its life high earlier this week on Wednesday (September 15). 

At around 02:23 pm, the stock has been trading around 3.5 per cent lower to Rs 750.85 per share on the BSE as compared to a 0.01 per cent rise in the S&P BSE Sensex during the same time on Friday.

Rakesh Jhunjhunwala along with his wife Rekha and associates publicly hold around 38 stocks in finance to tech and retail to pharma sectors, and also manages the asset firm Rare Enterprises.

Besides Jubilant Ingrevia, Nazara Technologies, one of the recently listed Rakesh Jhunjhunwala stock, has also given bumper returns of nearly 90 per cent since its market debut earlier this year in March.

Jubilant Ingrevia, which is a global integrated life science products and innovative solutions provider, serves to pharmaceutical, nutrition, agrochemical, consumer and industrial customers. It offers a broad portfolio of high-quality ingredients that find application in a wide range of industries.