Fineotex shoots up over 2x issue price

On the volume front,over 3 crore shares of the company were traded on the bourse.

The company had fixed a price band of Rs 60-72 a share for its Rs 30.32 crore initial public offer.

Fineotex plans to utilise the IPO proceeds to fund its expansion plans as well as acquisition of plants,machinery and for general corporate purposes.

The company is in the business of manufacturing speciality chemicals and enzymes used by the textile and garment industry,leather,water treatment,construction,paper,paint,adhesives,agrochemicals and other industries.

Meanwhile,the BSE key index Sensex ended the day at 18,174.09,down 153.89 points from its previous close.