Markets

Vishwaraj Sugar IPO fully subscribed

Our Bureau Chennai | Updated on October 04, 2019 Published on October 04, 2019

The ₹60-crore initial public offering of Karnataka-based Vishwaraj Sugar Industries completed successfully on the final day of bidding.

The public issue has received bids for 1.12 crore shares against an IPO size of 1 crore shares, according to data available on the exchanges.

Shares reserved for qualified institutional buyers and non-institutional investors have been fully subscribed while that of retail investors got 0.64 per cent.

The public issue comprises an offer-for-sale of 70 lakh shares and fresh issue of 30 lakh shares.

Of the net proceeds from the fresh issue, ₹15.7 crore would be utilised to fund the working capital requirement and general corporate purposes.

The company is an integrated sugar and other allied products manufacturing unit operating from Belgaum District, Karnataka.

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Published on October 04, 2019
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