The category meant for qualified institutional buyers (QIBs) was subscribed 1.37 times, non-institutional investors 3.51 times and retail individual investors 23 times.
Chemcon Speciality Chemicals Ltd on Friday raised over Rs 95 crore from anchor investors.
The initial public offer comprises a fresh issue aggregating up to Rs 165 crore and an offer for sale of up to 45 lakh shares.
Price range for the offer, which is scheduled to close for bidding on Wednesday, has been fixed at Rs 338-340 apiece.
At the upper end of the price band, the IPO will fetch Rs 318 crore.
The company intends to utilise the net proceeds from the fresh issue to meet capital expenditure for expansion of its manufacturing facility, fund working capital requirements and general corporate purposes.