The Rs 350-crore initial public offering (IPO) of agrochemical company Sharda Cropchem was subscribed around 60 times on Tuesday, the last day of the issue. The IPO subscribed 32 times in the qualified institutional investor category, 251 times in the high networth individual (HNI) category and nearly 6 times in the retail segment.
The bids from investors totaled nearly Rs 18,000 crore. The company was selling about 19.5 million shares through the IPO in a price band between Rs 145 and Rs 156 per share. Ahead of the IPO, the company had raised around Rs 50 crore from 18 anchor investors, which included DSP BlackRock, Kuwait Investment Authority, Reliance Capital and Morgan Stanley.
The success of Sharda Cropchem issue follows that of Snowman Logistics, which too had seen 60 times subscription in its IPO late last month.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app