Tuesday, January 23, 2018

Listing_Photo_1Astron Paper & Board Mill Limited shares debuted with 141.50% gains on National Stock Exchange and 139.40% on Bombay Stock Exchange. The share price closed at Rs 120.75 against the issue price of Rs 50. The bumper listing was on expected lines as the issue has received an overwhelming response, oversubscribing 241.14 times. Pantomath Capital Advisors Private Limited was the book running lead manager to the offer.

Commenting on the occasion, Mr. Kirit G Patel, CMD, Astron Paper and Board Mill Ltd. said, “We are overwhelmed by the response we received from the investors for our IPO. It is a matter of honour for us at to be a part of the popular stock exchanges. This would not have been possible without the trust shown by our investors.”

“We feel highly elated with an applaudable listing of Astron Paper with record over-subscription in any Main Board IPO of more than Rs 50 crore (in number terms). The scale and reach that Astron Paper has achieved reflect its immense potential and proficiency. With the listing of record 36 companies and fundraising of Rs 66900 Cr, the year 2017 witnessed more fund-raising than aggregate fundraising during past five years cumulatively. The year 2017 has been pinnacle in primary market and we expect this trend to continue in 2018 as well.”, remarked Mr. Mahavir Lunawat, Group Managing Director, Pantomath Capital Advisors Pvt Ltd, Lead Managers to Astron Paper and Board Mill Ltd IPO.

The year 2017 has been a historic one for initial public offerings (IPOs) on Dalal Street, with as many as 36 issues hitting the stock market and fundraising Rs 66,900 crore. From the first IPO of 2017 i.e. BSE Ltd to the endmost  IPO Astron Paper, initial public offerings soared the Dalal Street with record-breaking subscriptions and bumper listing gains to the investors. From GIC, biggest IPO to Salasar Techno, the smallest IPO of 2017, and IPO market has not disappointed investors.