ICL Makes a Strong Debut in BSE at a 4.00% Premium

The shares of ICL have made a strong debut in the BSE market. The share price of the Noida based manufacturer of dairy products was listed at the price band fixed at Rs.  20.80/- a piece.

Founded in 2013, ICL Organic Dairy Products Pvt Ltd is a renowned manufacturer of dairy products. The company operates in 4 states where procurement, processing, and packaging of milk and milk products are carried out

ICL is the first start-up in the FMCG Industry to get listed on the SME Platform of BSE on January 31, 2020.  The Rs 4.08 Cr. initial public offers (IPO) by ICL, had received the overwhelming response last week, with the issue getting oversubscribed a whopping 2.92 times

On Bombay Stock Exchange (BSE), the stock price opened at Rs. 20.80/-, registering an initial gain of Rs. 4.00 % higher. It then rose 4.00 % to Rs 21.30/- on the exchange. The stock has, however, touched an intraday low of Rs 19.80/-.

Commenting on the same, Mr. A.K. Gola, Director, ICL Organic Dairy Product said “We were overwhelmed to receive such a remarkable response from the investors, investor, regulators and the entire startup community for our first IPO and we are truly humbled for the same”