The equity shares of India’s largest white minerals producer, 20 Microns (20ML) got listed at Rs 80 on the National Stock Exchange (NSE), a premium of 45.45% from its issue price of Rs 55.

After listing with good premium, the scrip slipped downward.

At 9.55 a.m., the share of the company was trading at Rs 50 on the NSE at a discount of 9.09% to its issue price. The share hit an intraday high of Rs 80 and an intraday low of Rs 46. The total traded quantity stood at 66070 shares and turnover was Rs 36.11 lakh.

Moreover, the share opened at Rs 50 on the Bombay Stock Exchange (BSE) at a discount of 9.09% to its issue price. 

The share hit an intraday high of Rs 96.25 and an intraday low of Rs 47.55 on the BSE.

The company’s initial public offering (IPO), which hit the markets on Sep 08, received an overwhelming response from investors’ side. The issue was oversubscribed 4.29 times receiving a total of 18,663,800 bids against the 4,350,632 equity shares on offer. 

The company’s issue has been graded by the Credit Analysis & Research (CARE) and has been allotted the ‘IPO Grade 3’ pointing average fundamentals. The ISIN Code of the company is INE144J01019.

The company has decided to utilize the income on expansion of the manufacturing capacities at different locations, invest in the sub-micron particle sizes needed by end-market and general business purposes.