Anupam Rasayan India stumbles on stock market debut

Anupam Rasayan India on Wednesday stumbled on its stock market debut.

Shares of the speciality chemicals firm finished 5.24 per cent lower than its issue price on the BSE, with some experts citing high pricing as one of the reasons for the poor start.

“The listing was disappointing considering the over subscription and the fact that the share failed to cross the issue price. While the domestic markets were weak, it still does not address the fact that a 44-times subscribed issue failed to cross the issue price,” said Arun Kejriwal, director, KRIS.

Meanwhile, the IPO of Barbeque Nation Hospitality Limited was subscribed 1.33 times on Wednesday, the first day of subscription.