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Apollo Micro Systems IPO subscribed 246.64 times; raises Rs 470 mn

Price band for the offer has been fixed at Rs 270-275

Press Trust of India  |  New Delhi 


The initial public offer (IPO) of Apollo Micro Systems, which caters primarily to the defence and aerospace sectors, was subscribed a staggering 246.64 times so far on the last day of bidding on Friday.

The to raise Rs 1.56 billion received bids for 1,02,22,96,950 shares against the total issue size of 41,44,955 shares, data available with NSE till 1630 hrs showed.

on Tuesday raised nearly Rs 470 million from anchor

Price band for the offer has been fixed at Rs 270-275.

Proceeds of the will be used to meet additional working capital, and for other general corporate purposes.

Shares of the company will be listed on NSE and BSE.

Aryaman Financial Services Limited is the book running lead manager to the offer.

First Published: Fri, January 12 2018. 18:04 IST