S H Kelkar to make stock market debut on Monday

Mumbai - Shares of fragrance maker S H Kelkar and Company will get listed on the stock exchanges, BSE and NSE, on Monday. The company’s Rs 500-crore initial public issue (IPO) which closed last month had received an overwhelming response from investors and was over-subscribed 27.08 times. “Trading Members of the exchange are informed that effective from Monday, the equity shares of S H Kelkar and Company Limited shall be listed and admitted to dealings in the list of ‘B’ group of securities,” BSE said in a notice today. [caption id=“attachment_2475924” align=“alignleft” width=“380”]  Reuters[/caption] This was the fourth IPO this year, after VRL Logistics, Power Mech Projects and Syngene International, to receive such a strong response in terms of subscription. The price band for the IPO was fixed at Rs 173-180 per share. The company had fixed the issue price at Rs 180 per share, the upper end of the price band. Meanwhile, shares of IndiGo’s parent company InterGlobe Aviation made a remarkable debut on the bourses earlier this week, surging nearly 15 per cent, over the issue price of Rs 765 per share. In contrast, Coffee Day Enterprises, which runs Cafe Coffee Day outlets, made a sluggish debut on the exchanges earlier this month. The company is currently trading at Rs 265.40, way below its issue price of Rs 328. PTI