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Apollo Micro Systems IPO subscribed 2.14 times on Day 1

Apollo Micro Systems on Tuesday raised nearly Rs 470 million from anchor investors

Press Trust of India  |  New Delhi 

Apollo Micro Systems IPO subscribed 2.14 times on Day 1

The initial public offer (IPO) of Apollo Micro Systems, which caters primarily to the defence and aerospace sectors, was subscribed 2.14 times on the first day of bidding on Wednesday. The IPO, to raise Rs 1.56 billion, received bids for 88,60,500 shares against the total issue size of 41,44,955 shares, data available with the NSE showed. The portion reserved for (QIBs) was subscribed 32 per cent, non institutional investors 51 per cent and retail investors 3.78 times. yesterday raised nearly Rs 470 million from anchor investors. Price band for the offer, which would close on January 12, has been fixed at Rs 270-275. Proceeds of the IPO, through which is estimated to raise Rs 1.56 billion, will be used to meet additional working capital and other general corporate purposes. Shares of the company will be listed on NSE and BSE. Aryaman Financial Services Limited is the book running lead manager to the offer.

First Published: Wed, January 10 2018. 21:56 IST
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