The company’s initial public offer (IPO) Bids for 1,07,80,074 Shares According to the data, translating into 1.02 times subscription, compared to 1,05,46,297 shares on the proposal.
Retail individual investors (RIIS) quota were subscribed to 1.44 times, while part for non-institutional investors received 85 percent membership. Eligible institutional buyers (QIBS) part received a membership of 37 percent.
Plastic said on Wednesday that it had earned Rs 120 crore from anchor investors.
The company’s public issue will end on August 11, with a price band of Rs 260-275 per share. At the upper end of the price band, the company costs more than Rs 1,800 crore.
IPO is a combination of fresh release equity The company was priced at Rs 120.6 crore for offering more than 43.8 lakh equity shares, at the upper end of the price band by the company, and at the upper end of the price band by promoters. This takes up to Rs 401 crore size of the total number. The company plans to use the funds raised from issuing fresh to get machinery for its Manekpur plant, loan payment, general corporate objectives and other expansion efforts in Gujarat. All time plastic has a 14 -year experience of manufacturing plastic consumerware products for everyday domestic needs. It mainly exports products to retailers in the European Union, UK and America.
In India, it sells modern business retailers, super distributors (WHO) supply For distributors), and distributors (which supply to general business stores).
Intensive fiscal services and Dam capital advisor Merchants are bankers for plastic public issues at all times. The company is expected to be listed on stock exchanges on 14 August.