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IPO

Accent Microcell's Rs.78-Cr SME IPO oversubscribed 228 times

Economic Times  

The SME IPO of Accent Microcell has received bids worth over INR 12,000 crore against an offer size of INR 78 crore. The issue, which opened on December 8, has been subscribed 228 times so far. The heavy subscription demand for Accent IPO was led by retail and HNI investors, whose categories were subscribed over 300 times. The issue is entirely fresh equity of up to 56 lakh equity shares. The company is offering its shares at INR 133-140 apiece, and investors can bid for 1,000 shares in 1 lot. About 50% of the offer is reserved for qualified institutional investors, 35% for non-institutional investors and the rest 15% for retail investors. The net proceeds from the public offer will be used to set up a plant for manufacturing Croscarmellose Sodium, and Sodium Starch Glycolate and Carboxymethylcellulose (CMC).