Shares of Sah Polymers on Thursday listed with a premium of nearly 31 per cent on the stock exchanges against the issue price of Rs 65.
The stock made its debut at Rs 85, reflecting a jump of 30.76 per cent from the issue price on the BSE. It further rallied 36.92 per cent to Rs 89.
At the NSE, it began the trade at Rs 85.
The Udaipur-based company provides tailored bulk packaging solutions to business-to-business producers in a variety of industries, including agro pesticides, basic drugs, cement, chemicals, fertilisers, food products, textiles, ceramics, and steel.
Meanwhile, in the broader market, the 30-share BSE benchmark gave up all early gains and was trading 222.2 points or 0.37 per cent lower at 59,883.30.
The initial public offer of Sah Polymers was subscribed 17.46 times last week.
The initial share-sale had a price range for the offer at Rs 61-65 a share.