Aster Silicates IPO subscribed 4.47 times

The Initial Public Offering (IPO) of Aster Silicates Limited has received subscription of 4.47 times. The company came out with IPO of Equity Shares of Rs. 10/- each for cash aggregating to Rs. 5310 lacs.

The equity shares were issued in a price band of Rs 112 to Rs 118 through 100% book building process. The Minimum Order Quantity was 50 equity shares and in multiples of 50 shares. The Maximum Subscription Amount for Retail Investor is Rs 100000.

The Rating Agency Brickwork Ratings India Private Limited has assigned grade of 2/5 for the IPO.

Saffron Capital Advisors Private Limited was the Book Running Lead Manager to the IPO. Saffron Global Markets Private Limited and Reliance Securities Limited were the Syndicate Members.

Sharepro Services (India) Private Limited is the registrar to the company.

The IPO received total bids for 21183600 equity shars against the offer of 4741071 equity shares. The issue received bids for 11379900 equity shares at cut-off price.

The Non Institutional Investors portion of the issue received subscription of 12.46 times with bids for 8861800 equity shares against the offer of 711161 equity share.

The Retail Individual Investors (RIIs) portion of the issue received bids for 12289800 equity shares against the offer of 1659375 equity shares resulting in a subscription of 7.41 times.

The Qualified Institutional Buyers (QIBs) portion of the issue has received subscription of just 0.01 times with bids for 32000 equity shares against the offer of 2370535 equity shares.

Source : Equity Bulls

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