Unilex Colours And Chemicals Share Price Lists At 2% Premium Over Issue Price

Shares of Unilex Colours and Chemicals Ltd. made their debut on the National Stock Exchange at a premium of 2.2% over the issue price. The stock listed at Rs 89 apiece on the NSE against the upper band of the issue price of Rs 87.

Successful Investors, who were allotted a minimum of one lot or 1,600 shares of Unilex Colours and Chemicals, would have accrued a profit of Rs 3,200 against an investment of Rs 1,39,200, once the stock was listed.

Shares of Unilex Colours and Chemicals traded 1.8% lower at Rs 87.40 on NSE at 10:15 a.m.

The grey market premium of Unilex Colours and Chemicals shares stood at Rs 4 per the last update ahead of the listing. According to InvestorGain, the expected listing price of the initial public offering of Unilex Colours and Chemicals Ltd. was Rs 91.

It should be noted that the GMP is speculative and might not be a true indicator of a stock’s actual performance.

Unilex Colours and Chemicals' IPO was a book-built issue consisting of an entirely fresh issue of 36 lakh shares, aggregating to Rs 31.32 crore.

The minimum lot size to apply for the NSE SME issue was fixed at 1,600 shares, resulting in an investment of Rs 1,39,200 at the upper price band ranging from Rs 82 to Rs 87 apiece. 

Link Intime India Pvt. served as the registrar for the issue.

The NSE SME IPO was booked over 35.03 times during the bidding window from Sept. 25 to Sept. 27. The issue's demand was led by non-institutional investors who booked their quota by 60.74 times, followed by retail investors who subscribed their segment over 35 times. The qualified institutional buyers portion was subscribed 15.58 times.

The company plans to use the money raised via the public issue to meet working capital requirements, repayment of debts and other general corporate purposes.

Unilex Colours and Chemicals Ltd. is engaged in the manufacturing of pigments and food colours. The company’s products are marketed under the registered brand name ‘Unilex’ and exported to countries such as Vietnam, Brazil, Mexico, Nigeria, Russia and Uzbekistan. 

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.