Atharva Polyplast lists 15% higher at ₹69 after ₹27Cr IPO
Business
Atharva Polyplast kicked off its stock market journey with a bang, listing at ₹69 per share, 15% higher than its IPO price of ₹60.
That's a neat ₹9 gain right out of the gate for early investors.
The IPO, which ran from June 30 to July 2, helped the company raise ₹27 crore.
Atharva Polyplast oversubscribed over 10 times
Demand was huge: the issue was subscribed over 10 times, with noninstitutional investors leading the charge at 19 times. Retail investors weren't far behind at 11.3 times.
Atharva Polyplast makes precision plastic parts for things like furniture, appliances, and cars using specialized molding tech.
For retail buyers, though, getting in wasn't cheap. You needed at least ₹2.4 lakh to grab two lots (2,000 shares each) at the offer price.