After the weak listing of Five Star Business, now there is a great boom, profit booking in Archean Chemical

Photo: File IPO

Share Market IPOs of two companies Five Star Business and Archean Chemical were listed today. After the flat listing of the IPO of Five Star Business, now a great boom is being seen. The stock of Five Star Business is trading at Rs 532.95 with a gain of 18.45%. At the same time, after the listing in Archean Chemical’s IPO, the profit booking continues. Till 12 o’clock the company’s stock is trading at Rs 448.45 with a gain of 10.18%.

Where was the listing done

The listing of Five Star Business IPO was done at the level of Rs 449.95 on the Bombay Stock Exchange (BSE). At the same time, these stocks are listed at the level of 468.80 on NSE i.e. National Stock Exchange (NSE). The issue price of the share was Rs 474. On the other hand, the chemical sector company Arcion Chemical IPO was listed with a slight premium. The price band of the company’s IPO was Rs 407 but this share was listed at Rs 449 (13.86 per cent) on BSE and Rs 450 on NSE.

What is the business of both the companies

Five Star Business is a company in the finance sector. Started in 1984, this company provides business loans. As of June 2022, it has 311 branches in eight states and one union territory, as of June 2022. In the financial year 2021-22, its total income increased by 19.49 percent on an annual basis to Rs 1,256.16 crore. At the same time, the net profit of the company increased from Rs 358.99 crore to Rs 453.54 crore. Whereas, Archean Chemical Industries Limited is focused on manufacturing and exporting Bromine, Industrial Salt and Sulphate of Potash to customers around the world. It produces products from its brine reserves in the Rann of Kutch, off the coast of Gujarat, and manufactures products at its facility near Hajipir in Gujarat.

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