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The initial public offer of chemical manufacturer Fine Organic Industries was subscribed 3.2 times so far on the last day of bidding today.
The IPO, to raise little over Rs 600 crore, received bids for 1,71,89,718 shares against the total issue size of 53,65,497 shares, as of 4.25 pm local time.
Till yesterday, the IPO was subscribed 39 per cent. Fine Organic Industries had on Tuesday raised Rs 180 crore from anchor investors. The IPO comprises 76,64,994 shares (including anchor portion of 22,99,497 shares). Price band for the offer has been fixed at Rs 780-783 per share.
JM Financial and Edelweiss Financial Services lead managers to the issue. Fine Organic shares are proposed to be listed on the BSE and NSE. The Mumbai-based firm had filed draft papers with the Securities and Exchange Board of India to float the IPO in February.
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