Petro Carbon IPO Shines with 75.44% Listing Gain

Petro Carbon and Chemicals IPO - Lists at a premium of 75.44%

Petro Carbon and Chemicals IPO had a very strong listing on 02nd July 2024, listing at ₹300.00 per share, a premium of 75.44% over the issue price of ₹171 per share in the IPO. Here is the pre-open price discovery for the Petro Carbon and Chemicals IPO on the NSE.

PRE-OPEN ORDER COLLECTION SUMMARY

Data Source: NSE

The SME IPO of Petro Carbon and Chemicals was a book built IPO in the price band of ₹162 to ₹171 per share. Considering the strong subscription response at over 92X and the anchor allocation being done at the upper end of the band, the price discovery of the IPO also happened at the upper end of the price band at ₹171 per share. On 02nd July 2024, the stock of Petro Carbon and Chemicals listed at ₹300.00 per share, a premium of 75.44% over the IPO price of ₹171.00 per share. For the day, being in the 5% circuit filter category, the upper circuit price has been set at ₹315.00 and the lower circuit price has been set at ₹285.00.

As of 10.11 am, the volumes were 25.21 lakh shares while the turnover (value) was at ₹7,485 lakhs. The opening market cap of the stock stands at ₹723.22 crore. The equity shares of Petro Carbon and Chemicals (Symbol: PCCL) shall be in Series ST (Trade for Trade Surveillance Segment (TFTS) – Settlement Type W) and subsequently be shifted to Series SM (Normal Rolling Segment – Settlement Type N). At 10.11 am, the stock is trading at ₹292.80, which is -2.40 below the listing price of ₹300.00 per share and the stock is trading slightly tepid after a very strong listing on Tuesday. The stock of Petro Carbon and Chemicals has a face value of ₹10 per share and the market lot comprises of 800 shares. The stock trades under the NSE symbol (PCCL) and the ISIN code for demat credits will be (INE998U01015).