Chemcrux Enterprises Ltd SME IPO gets huge over subscription

The Initial Public Offering (IPO) of SME company Chemcrux Enterprises Limited has received huge subscription, as investors lapped up the shares in a tizzy.

The company came with an IPO of 1336000 equity shares of Rs. 10 each for cash at a fixed price of Rs. 18 (including a premium of Rs.8). Pantomath Capital Advisors Private Limited is the lead manager to the issue.

The IPO opened for subscription on March 15, 2017 and closed yesterday (March 20, 2017). The issue has garnered subscription for 9,04,16,000 equity shares against the offer of 13,36,000 equity shares resulting in a subscription of 67.67 times.

The issue received subscription for 1,58,32,000 equity shares at cut-off price and 7,45,84,000 equity shares at Rs. 18. The company will list its shares in BSE SME Exchange.

Source : Equity Bulls

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