Shares of Godrej Agrovet Limited marked
a stellar debut on the exchanges on Monday after the company has concluded
its Initial Public Offering last week. The stock advanced about 35% to
Rs 621 from its issue price of Rs. 460 on BSE.
Shares of Godrej Agrovet Ltd rose
37% to hit the record high of Rs 629.85. The IPO of Godrej Agrovet
subscribed 95.41 times on the final day bidding and mobilized over Rs 79000
crore for an issue size of Rs 1,158 crore.
Godrej Agrovet is the first IPO of
Godrej group in eight years. The company has raised about Rs 341 crore
from anchor investors ahead of its IPO. Over 74.17 lakh shares would be
allotted to 25 anchor investors at Rs 460 /equity share, as per exchange
filing.
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