Indore-based Agro Phos India Ltd, has taken the Small and Medium Enterprises (SME) markets by storm garnering a whopping subscription of over Rs200 crore—the largest subscription ever received by an SME IPO( initial public offering).
The issue opened for subscription on 27 October and closed on November 7. It was over-subscribed by more than 17 times of the total shares offered, which is also the highest-ever subscription for an SME IPO, a statement issued by lead Manager Pantomath Group said.
The company came out with a public offering of 58,80,000 equity shares with a price band of Rs 19-22 per equity share on Emerge Platform of NSE.
The issue not only set record by receiving highest-ever subscription amount, but also witnessed heavy participation from both retail and non-retail sectors.
Incorporated in 2002, Agro Phos India is engaged in the manufacturing of fertilisers such as single super phosphate, nitrogen phosphate and potassium, zinc sulphate, organic manure and calcium sulphate, commonly known as soil conditioner or gypsum.
Source: Mint
