Anupam Rasayan India shares fizzle in market debut

Anupam Rasayan India

24/03/2021 05:15

** Shares of specialty chemicals maker  ANUY.BO  fall as
much 9.7% to 501.15 rupees in Mumbai debut vs the issue price of
555 rupees
    ** The price range had been fixed at 553 rupees to 555
rupees per share
    ** Anupam Rasayan offered equity shares valuing up to 7.60
bln rupees ($104.67 mln) in its IPO, which was subscribed over
44 times
    ** Co in its draft red herring prospectus said it incurred
significant indebtedness of 8.62 bln rupees, as of Sept 30, and
insufficient cash flows to meet required payments on debt could
adversely affect business (https://bit.ly/3lIURfc)
 

    ($1 = 72.6080 Indian rupees)
 

 (Reporting by Shivani Singh in Bengaluru)
 ((ShivaniSingh1@thomsonreuters.com; +91 89 6969 2349))