Chemplast Sanmar shares have made a weak debut on the stock exchanges. The specialty chemicals company’s shares are listed at Rs 525 on the BSE, a 3 percent discount compared to the issue price of Rs 541 per share. At 10:40 a.m., Chemplast Sanmar shares were trading at Rs 526.30, down 2.72 percent, on the BSE and at Rs 526.20, down 2.7 percent, on the NSE.
The public offer from the specialty chemicals company had received a lukewarm response from investors. The offer of shares was subscribed to 2.17 times; the retail part was booked 2.29 times, the part intended for qualified institutional buyers was subscribed 2.7 times and the non-institutional investor segment was subscribed 1.03 times.
Chemplast Sanmar is part of the SHL Chemicals Group, owned by Sanmar Holdings. It is a specialty chemicals manufacturer with a focus on specialty paste PVC resin and tailor-made production of starting materials and intermediates for the pharmaceutical, agrochemical and fine chemicals sectors. It is also the leading manufacturer of PVC resin with special paste in India.