The initial public offer (IPO) of speciality chemical manufacturer Chemplast Sanmar is subscribed 2.56 times on August 12 so far, the third and last day of the bidding process. Investors have put in bids for 8.65 crore equity shares against an offer size of almost 4 crore shares, as per the subscription data available on exchanges.

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The reserved portion for retail investors has been subscribed 2.27 times, while that of non-institutional investors is subscribed 1.03 times. Qualified institutional buyers placed bids for 2.70 times the number of shares reserved for them till 4:30 pm.

The offer size has been reduced to 3.99 crore equity shares from 7.11 crore equity shares after the company raised Rs 1,732.5 crore from anchor investors at the higher end of the price band of Rs 530-541 per equity share.

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Delisted Chemplast Sanmar comes back with an IPO; Should you be cautious?

The IPO of the Chennai-based speciality chemicals maker, which is a part of the Sanmar Holdings group, is a combination of a fresh issue and an offer for sale by promoters.

The IPO comprises fresh issuance of shares worth Rs 1,300 crore, and an offer for sale (OFS) of shares worth Rs 2,550 crore by promoters.

First Published:Aug 12, 2021 11:32 AM IST