Astron Paper and Board Mills' initial public offer (IPO) was over-subscribed 5.11 times on the second day of bidding on Monday, stock exchanges data showed. The IPO to raise Rs 70 crore received bids for 7,15,88,440 shares against the total issue size of 1,40,00,000 shares, data available with the NSE showed. The portion set aside for qualified institutional buyers (QIBs) was over-subscribed 1.80 times, non-institutional investors 45 per cent and retail investors 14.08 times, merchant banking sources said. The issue, which would close on December 20, is in the price band of Rs 45-50. Pantomath Capital Advisors Private Limited is the book running lead manager to the offer. The equity shares of the company are proposed to be listed on the NSE and BSE.
Astron Paper IPO over-subscribed 5.11 times on second day
The IPO to raise Rs 70 crore received bids for 7,15,88,440 shares against the total issue size of 1,40,00,000 shares
Press Trust of India |