InvestorQ : How was the response to the Anupam Rasayan IPO on the first day of subscription on 12 March?
Lavanya Subramanian made post

How was the response to the Anupam Rasayan IPO on the first day of subscription on 12 March?

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Anamika Sodhani answered.
8 months ago
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On the first day of the IPO subscription, Anupam Rasayan India has been subscribed 1.29 times, The issue will close on Tuesday March 16 and it remains to be seen if the bank strike for the next two days will impact the subscription. The retail investors gave a strong response with the retail portion getting subscribed. 2.58 times. The QIB and the non-institutional portion are yet to see bids as them come on the last day.

As of the end of the first day, Anupam Rasayan had received bids for 1.25 crore equity shares against the offer size of 0.97 crore shares on offer. The offer size was reduced after the company managed a successful pre-IPO anchor placement worth Rs.225 crore. Anupam Rasayan plans to use the proceeds of the issue of Rs.564 crore to repay debt. The IPO has a price band of Rs.553-555.

Anupam Rasayan is India's leading custom synthesis and manufacturing or CSM company and operates predominantly in the life-sciences vertical. Anupam has a marquee client list including Syngenta, Sumitomo and UPL.

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