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Galaxy Surfactants IPO fully subscribed on Day 1

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Press Trust of India New Delhi
Speciality chemicals manufacturer Galaxy Surfactants initial public offer was fully subscribed on the first day of bidding today.

Galaxy Surfactants' Rs 937-crore IPO received bids of 44,17,100 shares against the total issue size of 44,32,174 shares, translating into 1 times subscription, data available with the NSE showed.

The portion reserved for qualified institutional buyers (QIBs) was subscribed 2.71 times, non institutional investors 1 per cent and retail investors 44 per cent.

The company had garnered a little over Rs 281 crore from anchor investors last week.

The IPO is of up to 6,331,674 equity shares (including anchor portion of 18,99,500 equity shares).

The IPO, which is in a price band of Rs 1,470-1,480 per share, will close on January 31.

ICICI Securities, Edelweiss Financial Services and J M Financial Institutional Securities are managing the companys public issue.

The company's equity shares are proposed to be listed on BSE and 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 initial public offer (IPO). However, it withdrew from the IPO market due to tepid response from investors.

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First Published: Jan 29 2018 | 7:55 PM IST

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