Apollo Micro Systems files IPO papers with SEBI

The other IPO which also received huge responses were Happiest Minds Technologies and Chemcon Speciality Chemicals, which was subscribed 150.98 times and 149.3 times respectively. Interestingly, both these stocks have seen bumper listing gained over 100 percent. Let's see how the IPO subscription and listing happened in 2020 so far, considered only IPOs issue size over Rs 100 crore.

Apollo Micro Systems Ltd has filed draft papers with capital markets regulator Sebi to raise about Rs 156 crore through an initial share-sale offer.

The public issue comprises sale of the company's equity shares aggregating up to Rs 156 crore, according to the draft red herring prospectus (DRHP) filed with Sebi.

Proceeds of the issue would be used to meet additional working capital and for other general corporate purposes. The equity shares are proposed to be listed on BSE and NSE. Further, Aryaman Financial Services is the sole book running lead manager to the issue.

The Hyderabad-based company is in the business of designing, development, and manufacturing of electronics and electro-mechanical systems including software.

As per the draft papers, the company design, develop and specialise in the production of ruggedized custom-built hardware and software solutions for the aerospace, defense, space, railways, automotive and homeland security sectors.