Anubhav Plast IPO Closes with 2.1x Subscription: Retail Investors Lead Rally as SME Listing Date Set
Anubhav Plast IPO Closes with 2.1x Subscription: Retail Investors Lead Rally as SME Listing Date Set
The initial public offering (IPO) of ERW steel pipes and tubes manufacturer Anubhav Plast concluded on June 23rd, witnessing a healthy subscription level. The company successfully raised Rs 24 crore through the issuance of 30 lakh shares at the upper end of the price band, which was set between Rs 77 and Rs 80 per share.The total issue comprising entirely a fresh issue aims to capitalize on expanding corporate needs while serving key infrastructure sectors. Investors collectively bid for 44.97 lakh shares during the three-day bidding period. This figure represents a robust 2.1 times subscription against the offer size of 21.52 lakh...