Syngene IPO over-subscribed on Day 2

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Mumbai | Updated: July 29, 2015 4:51:52 AM

Qualified institutional buyers (QIBs) portion was subscribed 1.22 times. A little over 48.86 lakh shares were subscribed against 40 lakh shares reserved for this category.

The initial public offering (IPO) of drug research and development company, Syngene International was fully subscribed as on the second of the three-day offering, stock exchange data showed. The issue closes on Wednesday, Jul 29.

Qualified institutional buyers (QIBs) portion was subscribed 1.22 times. A little over 48.86 lakh shares were subscribed against 40 lakh shares reserved for this category.

The retail investor book was subscribed 1.41 times. More than 98.53 lakh shares were bid against 70 lakh shares on offer. The demand for Syngene shares amongst non-institutional investors (NII) has been tepid so far. Out of 30 lakh shares reserved for NII that comprise high net worth individuals (HNIs), only 4.86 lakh shares were subscribed as on the second day.

syngene

Syngene raised R150 crore from anchor investors in a pre-IPO placement on Friday. The company allotted 60 lakh equity shares at a price of R250 apiece to 13 anchor investors. The anchor investors includes Goldman Sachs Fund, Monetary Authority of Singapore, Government of Singapore, and ICICI Prudential Top 100 Fund.

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