IPO
Shubhshree Biofuels Energy IPO subscribed 133 times
The initial public offering of Jaipur-based Shubhshree Biofuels Energy Ltd . was subscribed 133 times. The offering was entirely a fresh issue of 13.92 lakh shares. The company had fixed a price band at INR 113-119 a share. It intends to use the proceeds to fund the capital expenditure towards the installation of additional plant and machinery and to meet working capital requirements.Established in 2013, Shubhshree supplies biomass fuels, including biomass pellets and briquettes, to customers operating in the recycled material, textile processing, pharmaceutical and metal sectors. The firm had raised INR 4.68 crore from anchor investors. The IPO is being managed by Hem Securities Ltd. as the book-running lead manager. The market maker for the issue is Hem Finlease.
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