Bhilwara-based Krishna Phoschem Ltd opened its IPO on NSE Emerge platform from February 13 to 16. The company made an offer of 65,76,000 equity shares at Rs 30 each to raise ₹ 19.73 crore.
The offer received overwhelming response from the market, collecting bids of over ₹ 600 crore. The HNI and QIB categories was oversubscribed 11.77 times and the retail category was oversubscribed 53 times.
Pravin Ostwal, MD at KPL, said in a press statement, “The incredible response from the market has made us more responsible and has encouraged us to perform and take the company to next level. We are happy that after the record breaking IPO of one of our associate company, Madhya Bharat Agro Products Ltd procuring ₹ 103 crore, we are adding another jewel to our crown with KPL.”