New Delhi, Jul 23 (PTI) Shares of specialty chemicals manufacturing firm Rossari Biotech made a stellar debut at the bourses on Thursday, and closed nearly 77 per cent higher against its issue price of Rs 425 per share.

During the day, the stock touched its highest trading permissible limit for the day on the BSE as well as NSE.

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The stock listed at Rs 670, registering a gain of 57.64 per cent from its issue price on the BSE. During the day, it jumped 89.17 per cent to Rs 804 -- its upper circuit limit. It finally closed at Rs 742.35, up 74.67 per cent.

On the NSE, it closed at Rs 752, a gain of 76.94 per cent. During the day, it jumped 88.96 per cent to Rs 803.10

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The company's market valuation stood at Rs 3,854.98 crore on the BSE.

In terms of volume, 30.27 lakh shares were traded on the BSE during the day, while 3.57 crore shares changed hands on the NSE.

The Rs 496-crore IPO of Rossari Biotech was subscribed a whopping 79.37 times. The price range for the offer was fixed at Rs 423-425 per share.

Rossari Biotech's initial share-sale ended four months of inactivity in the IPO market. The offer was managed by Axis Capital and ICICI Securities.

Rossari Biotech is a specialty chemicals manufacturing firm with focus on home and personal care, performance chemicals, textile specialty chemicals and animal health and nutrition products.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)