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Omkar Speciality Chemicals nosedives upon listing, closes at 52% discount

Omkar Speciality Chemicals Ltd., which listed its Equity Shares on the exchanges today, had a disastrous debut with the share plunging from its Issue Price of Rs.98/- per share right down to the level of Rs.46.20 on the BSE.

The share opened trade at Rs.95/- on the BSE, at a discount of Rs.3/- as against its Issue Price of Rs.98/- per share and started bleeding soon thereafter. At one stage, it also went onto the level of touching Rs.42.50 - a deep cut of 56.6% on the Issue Price

Omkar Speciality Chemicals Ltd. is mainly engaged in the manufacture and sale of speciality chemicals viz. selenium compounds, iodine compounds, molybdenum compounds etc. and pharma intermediates viz. Potassium Iodate, Bismuth Ammonium Citrate, Bromoform etc.

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