Fragrances and flavours major SH Kelkar and Company, which had fixed the price band for its IPO at ₹173-180, got oversubscribed by a whopping 26.88 times at 18.15 IST on the last day.
While the qualified institutional buyers’ portion got subscribed by 25.55 times, non-institutional investors gave a thumping response overbidding by 87.38 times. The retail portion got subscribed by 2.07 times.
Anchor investors, including leading domestic MFs, invested ₹152.45 crore at ₹180 a share. Of the total, the company will raise ₹210 crore by issuing fresh shares, while the US-based PE giant Blackstone will mobilise ₹290 crore by offloading its 10 per cent stake in the company.