Pharma products distributor Hamps Bio’s Rs.6.2 Cr SME IPO subscribed 1003 times

The INR 6.2 crore initial public offering of Surat-based Hamps Bio was oversubscribed 1,003.3 times. The issue price was INR 51 per share. Investors subscribed to 122.4 crore equity shares in three days, compared to the offer size of 12.2 lakh shares.Retail investors bid 1,342 times the portion set aside for them, while institutional and non-institutional investors picked 772 times their allotted quota.Hamps Bio is engaged in the marketing and distribution of pharmaceutical formulation products, as well as the manufacturing of freeze dried and frozen products. It sells products through a distributors’ network as well as e-commerce platforms.The IPO funds will be used for purchase of plant and machinery for FMCG division, and to create awareness of the brand.