The initial public offering of Apollo Micro Systems, a company engaged in aerospace, defence and transportation sectors, was subscribed 0.45 times as of 4.20 pm local time, as per NSE data.

The number of shares reserved for qualified institutional investors was 11,51,875, non institutional investors 8,63,800, retail individual investors 21,09,280, and employees 20,000. Of the total 41,44,955 shares reserved/offered, the company has got bids for 18,74,650.

Of this, retail investors bid for 18,40,350 shares (0.87 times), non institutional investors 20,700 (0.02 times), QIBs 6,600 (0.01 times) and employees 7,000 (0.35 times).

The company plans to to raise Rs 156 crore by offer of equity shares of Rs. 10 each for cash at a premium in the price band of Rs. 270-275 per equity share. The issue, being offered through a book-building route, is being offered at a discount of Rs. 12 to retail individual investors.

The IPO, which opened today, will close on January 12. Subscription for anchor Investors had opened on January 9. The shares will be listed on NSE and BSE. Proceeds from the IPO are proposed to be used for additional working capital requirements and general corporate purposes. Aryaman Financial Services Limited is the Book Running Lead Manager.

The company has an order book of Rs. 97.50 crore as of November 25, 2017. Engaged in electronic, electro-mechanical, engineering designs, Apollo Micro Systems designs and develops high-performance, custom built ruggedised electronics and electro-mechanical systems for mission and time critical solutions.