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Aug, 24 2017

Apex Frozen Foods IPO oversubscribed

The offer of up to 87 lakh shares, including the anchor portion of 24,90,000, with a face value of Rs 10 each is in the price band of Rs 171-175.

The IPO, with an aim to raise up to Rs 152 crore, received bids for 69,46,240 shares. The total issue size is 62.1 lakh shares. The issue closes on Thursday

The initial public offer (IPO) of Apex Frozen Foods that deals in aquaculture products was oversubscribed 45% on the second day of the public issue on Wednesday.

Apex Frozen on Monday raised over Rs 43 crore from anchor investors. The offer will close on Tuesday.

The offer of up to 87 lakh shares, including the anchor portion of 24,90,000, with a face value of Rs 10 each is in the price band of Rs 171-175.

At the upper end, it can fetch up to Rs 152.25 crore while at the lower limit, the company will raise at least Rs 148.77 crore.

The IPO comprises fresh issue of 72.50 lakh shares and an offer for sale of 14.50 lakh by promoters.

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