The initial public offer of speciality chemicals company Anupam Rasayan India Limited was subscribed 1.29 times on the first day of subscription on Friday. The Rs 760-crore public issue received bids for 1,25,08,209 shares against 97,01,809 shares on offer, according to NSE data. The category for non-institutional investors was subscribed 9 per cent and those for retail individual investors (RIIs) 2.58 times. Price range for the offer, which would close on Tuesday, has been fixed at Rs 553-555 per share. Anupam Rasayan had on Wednesday raised Rs 225 crore from anchor investors. The initial public offer (IPO) is an entirely fresh issuance of equity shares and proceeds of the issue would be mainly used to pay the debt.
Read more about Bharat Rasayan gains after board approves Rs 107 cr buyback on Business Standard. Bharat Rasayan rose 2.08% to Rs 10,566.15 after the company said that its board approved the proposal to buyback upto 93,472 shares at Rs 11,500 each.
Read more about Bharat Rasayan soars on buyback plan on Business Standard. Bharat Rasayan spurted 7.49% to Rs 10,142.05 after the company said that its board will consider share buyback on Tuesday, 12 January 2021.