Galaxy Surfactants IPO sees 19.76 times subscription on the last day
The portion of shares reserved for institutional investors in the Galaxy Surfactants IPO was subscribed 54.27 times, while those for retail and non-institutional investors was subscribed 5.53 times and 6.96 times, respectively
Mumbai: The Rs937 crore initial public offering (IPO) of speciality chemicals manufacturer Galaxy Surfactants Ltd was subscribed 19.76 times on Wednesday, the last day of the share sale.
On the second day, the Galaxy Surfactants IPO was subscribed 4.13 times.
According to data from stock exchanges, as of 5pm, the portion of shares reserved for institutional investors in the Galaxy Surfactants IPO was subscribed 54.27 times, while that set aside for retail and non-institutional investors was subscribed 5.53 times and 6.96 times, respectively.
Galaxy Surfactants had set a price band of Rs1,470-1,480 per share for the IPO.
The Galaxy Surfactants IPO is a pure offer for sale, which will see a total of 307 shareholders, including the promoters, sell 6.33 million shares.
ICICI Securities Ltd, Edelweiss Financial Services Ltd and JM Financial Institutional Securities Ltd are managing the IPO.
Incorporated in 1986 and based in Navi Mumbai, Galaxy Surfactants manufactures products used in consumer-focused personal and home care products such as skin, hair and oral care items and cosmetics, toiletries and detergents.
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