Chennai: Karnataka based Vishwaraj Sugar Industries has received a good response to its initial public offer with 1.12 crore bids against the IPO size of 1 crore shares.
The company’s IPO opened for bidding on September 30, 2019, and closed on October 4, 2019. The price band for the issue was fixed at Rs 55 to Rs 60 per share.
As per the data available on exchanges, the shares reserved for qualified institutional buyers and non-institutional investors were fully subscribed, and the retail investors got 0.64 per cent.
The public issue comprises an offer-for-sale of 70 lakh shares and fresh issue of 30 lakh shares. Out of the funds generated, Rs 15.7 crore would be used for fulfilling the requirement of working capital and corporate purpose.
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