The initial public offer (IPO) of Apex Frozen Foods that deals in aquaculture products was oversubscribed 1.12 times so far on the second day of bidding on Wednesday.
Apex Frozen on Monday raised over Rs 43 crore from anchor investors. The offer will close on Tuesday.
The offer of up to 87 lakh shares, including the anchor portion of 24,90,000, with a face value of Rs 10 each is in the price band of Rs 171-175.
At the upper end, it can fetch up to Rs 152.25 crore while at the lower limit, the company will raise at least Rs 148.77 crore.
Proceeds from the issue will be utilised towards setting up a new shrimp processing unit with a capacity of 20,000 tonnes per annum in Andhra Pradesh and for general corporate purposes.
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