Why has Anupam Rasayan stock rallied so sharply since listing?
Answer
Answer
Anupam Rasayan has gained 46% listing of which it gained 13% in just the last 2 days to scale a high of Rs.716. Anupam had issue dan IPO at the price of Rs.555. The trigger for the rally came from Plutus Wealth Management buying 1 million shares through open market transactions worth Rs.64.5 crore.
Anupam has repaid Rs.470 crore of borrowings out of the IPO proceeds and even bagged a Rs.1,100 crore order from one of the life sciences MNC.