Decorative laminated sheets manufacturer Rushil Decor has fixed issue price at higher end of price band of Rs 63-72 a share for its initial public offering of 54 lakh equity shares (excluding promoters contribution of 2,43,750 shares).
Company raised Rs 40.64 crore (including promoters' contribution of Rs 1.75 crore) through the issue, which will be used for setting up of medium density fibre board plant and for working capital requirement.
The issue, which opened for subscription during June 20-23, was subscribed 2.62 times.
Retail and non-institutional investors helped the issue, with their subscription of 6.5 times and 1.35 times over reserved portion, respectively.
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