Apollo Micro Systems IPO subscribed 246.64 times on last day
New Delhi: The initial public offer (IPO) of Apollo Micro Systems, which caters primarily to the defence and aerospace sectors, was subscribed a staggering 246.64 times so far on the last day of bidding on Friday.
The Apollo Micro Systems IPO to raise Rs156 crore received bids for 1,022,296,950 shares against the total issue size of 4,144,955 shares, data available with NSE till 1630 hours showed.
Apollo Micro Systems on Tuesday raised nearly Rs47 crore from anchor investors. Price band for the offer has been fixed at Rs270-275. Proceeds of the IPO will be used to meet additional working capital, and for other general corporate purposes.
Shares of the company will be listed on NSE and BSE. Aryaman Financial Services Ltd is the book running lead manager to the offer.