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Archean Chemical IPO: Good signals are being received from gray market, listing is expected at premium, know latest GMP – archean chemical ipo gmp rise today listing gain earn money stock market investment return – News18 Hindi

highlights

The issue price of Archean Chemical Industries IPO was Rs 386-407.
The salt maker had raised Rs 658 crore from anchor investors.
The shares of this issue are continuously trading at a premium in the gray market.

New Delhi. The IPO of Archean Chemical Industries Limited (Archean Chemical IPO) got good support from the investors. This Rs 1462.31 crore IPO, which closed on November 11, received 32.23 times more bids. The portion reserved for QIBs was subscribed 48.91 times. The portion reserved for retail investors was subscribed 9.96 times. Along with the investors, the unlisted shares of this issue are getting good response in the gray market as well.

The issue price of the IPO was Rs 386-407. Brokerage Geojit has advised to ‘Subscribe’ to Archean Chemical’s IPO. The company had raised Rs 658 crore from anchor investors before its issue. Anchor investors were allotted 1,61,67,991 equity shares at Rs 407 per share. Some other funds including Goldman Sachs, Abu Dhabi Investment Authority, Seganti India Mauritius, BNP Paribas, Societe Generale, Government Pension Fund Global, DSP Small Cap Fund have invested in it.

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The stock is making a splash in the gray market
The shares of Archean Chemical Industries Limited IPO have been trading at a premium in the gray market since inception. On Friday, the unlisted shares of the issue are trading at a premium of Rs 112 (Archean Chemical IPO GMP) in the gray market. From this point of view, the listing of IPO in the stock market can be done at Rs.519. The GMP of Archean Chemical was Rs.66 on last Friday. It is increasing continuously. The listing of the issue shares can be done on BSE and NSE on November 21, 2022.

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Investors should keep in mind that if the shares of an issue are trading at a premium in the gray market, then its listing is also not necessary to be at a premium in the stock market. This is just a price based on speculations.

Company Profile
Archean Chemical Industries manufactures and exports Bromine, Industrial Salt and Potash Sulphate. It extracts raw materials from the salt deposits of Rann of Kutch located in Gujarat and manufactures products in its factory located near Hajipir in Gujarat. Up to 805 crore equity shares were issued through Arcion Chemical IPO and up to 1.61 crore shares were sold by the promoters through Offer for Sale.

Tags: business news in hindi, earn money, Investment and return, IPO, Money Making Tips, stock market

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