Goyal Salt makes stellar debut on D-street; SME shares lists with robust 242% premium at ₹130 apiece on NSE SME

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₹130 apiece on the NSE SME, a premium of 242% to the issue price of ₹38 per share. The ₹18.63-crore worth initial public offering (IPO) of Goyal Salt Ltd received stellar response from investors. Goyal Salt IPO is an SME IPO that opened for public subscription on September 26 and ended on October 3.

Goyal Salt IPO was subscribed 294.61 times in total at the end of the bidding process. The public issue was subscribed 377.97 times in the retail category and 382.45 times in the Non-Institutional Investors’ (NII) category. The QIB quota is booked 67.20 times.

(Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) The Rajasthan-based Goyal Salt Ltd is a refiner of raw salts procured from subsoil brine, used as industrial salts and edible salts. The company also produces and supplies industrial salt for soap and detergent industries, chemical industries and textile and dyeing industries. It also supplies industrial salts to industries producing glass, plastics, rubber, polyester and leather.

Goyal Salt raised ₹18.63 crore from the IPO which was entirely a fresh issue of 49.02 lakh shares. The IPO price band was fixed at ₹36 to ₹38 per share. The company had already raised ₹5 crore from anchor investors on September 25, ahead of the IPO opening.