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The initial public offering (IPO) of Cool Caps Industries Ltd was subscribed 7.5 times at the end of book building process on March 15.
The HNI investors subscribed 4.46 times of their allocation while the retail portion fetched bids for 11.25 times.
The ₹11.63 crore IPO was open for subscription between March 10-15 in the price band of ₹36-38 a piece. The company sold 30,60,000 equity shares with a lot size of 3,000. The company’s shares will be listed on Emerge platform of National Stock Exchange of India, said a press statement.
The net proceeds will be utilised to meet the working capital requirements and for general corporate purposes. The lead manager to the issue is Holani Consultants and the registrar is Link Intime India Ltd.
Founded in 2015, Cool Caps is engaged in the business of manufacturing a wide range of plastic bottle caps and closures. It has units at Howrah in West Bengal and Kotdwar in Uttarakhand.
The company has clients such as Bisleri, Kingfisher, IRCTC, Patanjali and Clear, among others.
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