Galaxy Surfactants IPO subscribed 20 times last day

Speciality chemicals manufacturer Galaxy Surfactants initial public offer was subscribed 19.97 times so far on the last day of bidding today.
Galaxy Surfactants' Rs 937-crore IPO received bids for 8,85,08,110 shares against the total issue size of 44,32,174 shares, data available with the NSE till 1930 hours showed.
The category reserved for qualified institutional buyers (QIBs) was subscribed 54.27 times, non-institutional investors 6.96 times and retail investors 5.92 times, merchant banking sources said.
The IPO has attracted over 11.25 lakh applications, they said.
The company had garnered a little over Rs 281 crore from anchor investors last week.
The IPO is of up to 6,331,674 shares (including anchor portion of 18,99,500 shares).

The IPO is in a price band of Rs 1,470-1,480 per share.

ICICI Securities, Edelweiss Financial Services and J M Financial Institutional Securities are managing the companys issue.
The company's equity shares are proposed to be listed on the BSE and the NSE.
This is the company's second attempt to go public.
Earlier in 2011, Galaxy Surfactants had entered the capital markets to raise over Rs 200 crore through an IPO. However, it withdrew from the IPO market due to tepid response from investors.