The initial share sale of specialty chemicals maker Chemplast Sanmar received 2.17 times subscription by the close of the offer on Thursday.
The company’s initial public offer (IPO) received bids for 8,66,38,140 shares against 3,99,52,829 shares on offer, as per data available with the exchanges.
Qualified Institutional Buyers (QIBs) category was subscribed 2.70 times, non-institutional investors 1.03 times and retail individual investors (RIIs) 2.29 times.
The initial public offer aggregating up to Rs 3,850 crore had a fresh issue of up to Rs 1,300 crore and an offer for sale of up to Rs 2,550 crore.
The IPO was in a price range of Rs 530-541 per share.
On Monday, Chemplast Sanmar said it has collected over Rs 1,732 crore from anchor investors.
ICICI Securities, Axis Capital, Credit Suisse Securities (India), IIFL Securities, Ambit Private Limited, BOB Capital Markets, HDFC Bank, IndusInd Bank and YES Securities (India) were the managers to the offer.
Chennai-based Chemplast Sanmar is a leading specialty chemicals manufacturer with focus on specialty paste polyvinyl chloride resin and custom manufacturing of starting materials and intermediates for pharmaceutical, agro-chemical and fine chemicals sectors.
