Anupam Rasayan India IPO fully subscribed on first day of the issue

The initial public offering (IPO) of speciality chemicals company Anupam Rasayan India was fully subscribed on Friday, Day 1 of the issue.

The wealthy investor portion was subscribed 9 per cent, with the retail investor portion subscribed 2.5x the number of equities allotted to them. The portion reserved for employees was subscribed 30 per cent.

On Wednesday, the company raised Rs 225 crore from 15 Anchor investors. The investors who participated in the anchor allotment include Nomura Asset Management, Fidelity International, SBI Life, IIFL Special Opportunities Fund, Malabar and Max Life, among others.

The price band of the issue is Rs 553-555 per share. The Rs 760-crore IPO comprises only fresh issuance.  And the company plans to utilise proceeds for repayment of debt and general corporate purposes.