Receives bids for 37.10 lakh shares
The initial public offer (IPO) of Galaxy Surfactants received bids for 37.10 lakh shares on the first day of the bidding for the IPO today, 29 January 2018, data on NSE showed as at 16:45 IST. The IPO was subscribed 0.84 times. The company has fixed the price band of Rs 1,470 to Rs 1,480 per equity share. The IPO closes on 31 January 2018.
Ahead of the opening of the IPO, the board of directors of the company at its meeting held on 25 January 2018 finalized allocation of 18.99 lakh equity shares to 25 anchor investors at Rs 1,480 per share.
The current offer comprises offer for sale of 63.32 lakh shares by promoters and group.
At the lower price band of Rs 1,470 per share, the size works out to Rs 930.76 crore. At the higher price band of Rs 1,480, the issue size is Rs 937.09 crore. The objects of the issue is to achieve the benefits of listing the equity shares on the BSE and the NSE, to enhance visibility and brand image and provide liquidity to the existing shareholders.
On a consolidated basis, Galaxy Surfactants reported profit after tax of Rs 75.16 crore on revenue from operations of Rs 1192.48 crore in half year ended 30 September 2017.
Galaxy Surfactants manufactures surfactants and other speciality chemicals for the personal- and home-care industries. Products finds application in a host of consumer-centric personal- and home-care segments including skin-, oral- and hair-care, cosmetics, toiletries and detergent products.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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