Stocks

Orchid Pharma OFS fully subscribed

Our Bureau Chennai | Updated on June 25, 2021

The offer-for-sale in Orchid Pharma by its promoter received strong response from both non-institutional (HNI) and retail investors. While the HNI portion was subscribed by 1.14 times on Thursday, the retail portion, which opened on Friday, got 3.45 times. On Wednesday, promoter Dhanuka Laboratories informed the exchanges that it would sell up to 32.8 lakh shares, representing 8.04 per cent stake. It fixed the floor price at ₹375, a huge 72 per cent discount to Wednesday’s closing price of ₹1,319.80. Shares of Orchid Pharma closed 10 per cent lower at ₹1,065.60 on the NSE on Friday.

Published on June 25, 2021

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