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Galaxy Surfactants IPO subscribed 4 times on Day 2 of bidding

Galaxy Surfactants IPO subscribed 4 times on Day 2 of bidding

New Delhi, Jan 30 (PTI) Speciality chemicals manufacturer Galaxy Surfactants initial public offer was subscribed 4.13 times on the second day of bidding today.

Galaxy Surfactants Rs 937-crore IPO received bids for 1,83,09,770 shares against the total issue size of 44,32,174 shares, data available with the NSE showed.

The category reserved for qualified institutional buyers (QIBs) was subscribed 10.90 times, non institutional investors 19 per cent and retail investors

1.95 times.

The company had garnered a little over Rs 281 crore from anchor investors last week.

The IPO is of up to 6,331,674 shares (including anchor portion of 18,99,500 shares).

The IPO, which is in a price band of Rs 1,470-1,480 per share, will close tomorrow.

ICICI Securities, Edelweiss Financial Services and J M Financial Institutional Securities are managing the company?s public issue.

The companys equity shares are proposed to be listed on BSE and NSE.

This is the companys second attempt to go public.

Earlier in 2011, Galaxy Surfactants had entered the capital markets to raise over Rs 200 crore through an initial public offer (IPO). However, it withdrew from the IPO market due to tepid response from investors.

PTI SUM SBT