IPO
Condoms maker Anondita Medicare’s Rs.69.5 Cr SME IPO oversubscribed
Economic Times Business Standard
Noida-based Anondita Medicare ’s SME IPO was oversubscribed 60.72 times on the NSE. The IPO received bids for 443.5 million equity shares against 1.55 million shares on offer. The price band is set between INR 137 and INR 145 per share.The portion reserved for the Non-Institutional Investors (NIIs) category got oversubscribed by 264.84 times and the Retail Individual Investors (RIIs) segment by 159.67 times. The Qualified Institutional Buyers' (QIB) quota was booked 16.8 times.The proceeds would be used for working capital needs, to fund acquisitions and for capital expenditure.Narnolia Financial Services is the book-running lead manager to the issue.Founded in March 2024, Anondita Medicare manufactures and exports condoms under the Cobra brand, with an annual capacity of 562 million units.
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