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Dec 21, 2017 08:40 AM IST | Source: PTI

Astron Paper IPO oversubscribed 243.20 times

The qualified institutional buyers (QIBs) portion got oversubscribed 103.36 times, non institutional investors 396.99 times and retail investors 76.26 times, merchant banking sources said. The issue is in the price band of Rs 45-50.

 
 
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Astron Paper and Board Mills' initial public offer (IPO) was oversubscribed 243.20 times so far on the last day of bidding today.

The IPO to raise Rs 70 crore received bids for 3,40,48,47,040 shares against the total issue size of 1,40,00,000 shares, data available with the NSE till 2000 hrs showed.

The qualified institutional buyers (QIBs) portion got oversubscribed 103.36 times, non institutional investors 396.99 times and retail investors 76.26 times, merchant banking sources said. The issue is in the price band of Rs 45-50.

Pantomath Capital Advisors Private Limited is the book running lead manager to the offer.

The equity shares of the company are proposed to be listed on the NSE and BSE. Incorporated in 2010, Astron Paper and Board Mills' is engaged in manufacturing of kraft paper.

The company has manufacturing facility in Gujarat.
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