Aqua Logistics fixes issue price at Rs 220

Supply-chain firm Aqua Logistics has fixed the issue price of in its initial public offer (IPO) at Rs 220 a share.

Meanwhile, the company has offered a discount of Rs 5 to eligible retail investors who would be alloted shares.

The company would make a public issue of 68,72,852 shares of Rs 10 each at a price of Rs 220 per shares for non- institutional and QIB bidders and Rs 215 per equity share for retail investors, aggregating up to Rs 150 crore, Aqua Logistics said in a public announcement.

The company's maiden issue last month managed to get fully subscribed after the company lowered the price band for its IPO and even extended its closing by three days.

The firm had hit the primary market with an IPO of 75 lakh equity shares on January 25 under the price band of Rs 220-230. But, later revised it downwards to Rs 200-225 a piece as it received lukewarm response from investors.

Also after extending the issue by three days, the company received bids for over 1.4 crore equities, thereby getting subscribed 1.94 times.

Aqua Logistics' shares would be listed on the Bombay Stock Exchange and National Stock Exchange.