The public offer of Anupam Rasayan has been subscribed 44.06 times so far on the final day of bidding. The issue has received bids for 42.74 crore equity shares against the offer size of over 97 lakh equity shares, as per the subscription data available on the exchanges.
The portion set aside for retail investors is subscribed 10.77 times and that of non-institutional investors is at 97.42 times and qualified institutional buyers 65.74 times. Employees have put in 1.71 times more bids compared to the reserved portion.
Anupam Rasayan, which has two distinct business verticals - life science related specialty chemicals and other specialty chemicals (comprising specialty pigment and dyes, and polymer additives), aims to raise Rs 760 crore through the public issue.
Also read, our in-house research team's take on Anupam Rasayan IPO
It is fully a fresh issue and the net proceeds will be utilised for repayment of debt. The company intends to repay its debt of Rs 564 crore from a total best of Rs 842 crore.
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