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IPO

Chemplast Sanmar's Rs.3,850-Cr IPO fully subscribed

Financial Express  

The initial public offering (IPO) of specialty chemicals manufacturer Chemplast Sanmar was fully subscribed on the last day of subscription. Investors have placed bids for 1.93 times the entire IPO. The company was looking to raise INR 3,850 crore via the IPO, at a price band at INR 530-541 per equity share. The IPO comprised a fresh issue of INR 1,300 crore by the company, and an offer for sale of INR 2,463.4 crore by promoters, Sanmar Holdings and Sanmar Engineering Services. The company had raised INR 1,732.5 crore from anchor investors ahead of the IPO.