ALSO READApollo Micro Systems IPO subscribed 2.14 times on Day 1 Apollo Micro Systems sets IPO price band at Rs 270-275; to raise Rs 1.56 bn Apollo Micro Systems IPO subscribed 9 times on Day 2 Clarify on proposed IPO plans, Sebi to Lemon Tree Hotels, 9 other companies Total Transport Systems to enter capital market with IPO on July 25
The initial public offer (IPO) of Apollo Micro Systems, which caters primarily to the defence and aerospace sectors, was subscribed a staggering 246.64 times so far on the last day of bidding on Friday. The IPO to raise Rs 1.56 billion received bids for 1,02,22,96,950 shares against the total issue size of 41,44,955 shares, data available with NSE till 1630 hrs showed. Apollo Micro Systems on Tuesday raised nearly Rs 470 million from anchor investors. Price band for the offer has been fixed at Rs 270-275. Proceeds of the IPO will be used to meet additional working capital, and for 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.