Galaxy Surfactants gains over 13 per cent on debut

Galaxy Surfactants, a speciality chemicals manufacturer, debuted on the bourses on Thursday at a 3 per cent premium.

The stock soon extended gains to Rs 1,680 in morning trade on Thursday, a premium of 13.5 per cent over its issue price. The scrip opened at Rs. 1525 per share and touched a high and low of Rs. 1,680 and Rs. 1,525 per share on NSE.

The company's Rs. 937 crore IPO was open for subscription from January 29 to January 31, 2018 and was subscribed 20 times. Galaxy Surfactants had set a price band of Rs. 1,470-1,480 per share for the IPO.

Incorporated in 1986, Galaxy Surfactants is one of the leading manufacturers of surfactants and other speciality ingredients for the personal care and home care industries in India.

At 11:46 hours on Thursday, Galaxy Surfactants was trading at Rs. 1,620 per share, up Rs. 140 or 9.46 per cent on NSE. Whereas BSE Sensex was at 34,507.76, up 425 points or 1.75 per cent and Nifty was at 10,599.5, up 122 points or 1.18 per cent. The stock attracted a traded volume of 55,18,139 shares on NSE.