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Last Updated : Jun 29, 2018 01:06 PM IST | Source: Moneycontrol.com

Fine Organic Industries to debut on bourses on July 2

The Rs 600-crore initial public offer was oversubscribed by 8.99 times during June 20-22, 2018.

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Chemical manufacturer Fine Organic Industries is set to debut on bourses on July 2. The final issue price is fixed at higher end of price band of Rs 780-783 per share.

The Rs 600-crore initial public offer was oversubscribed by 8.99 times during June 20-22, 2018.

The reserved portion of qualified institutional buyers (QIBs) portion was subscribed 12.86 times, non-institutional investors 21.01 times and retail investors 1.62 times.

The IPO comprises of offer for sale of 76,64,994 equity shares by the promoter group selling shareholders who are Prakash Damodar Kamat, Mukesh Maganlal Shah, Jyotsna Ramesh Shah, Jayen Ramesh Shah, Tushar Ramesh Shah and Bimal Mukesh Shah.

Fine Organic is the largest manufacturer of oleochemical-based additives in India and a strong player globally in this industry, according to CRISIL Research Report.

It produces a wide range of specialty plant derived oleochemical-based additives used in food, plastic, cosmetics, paint, ink, coatings and other specialty application in various industries.

JM Financial and Edelweiss Financial Services were the book running lead managers to the issue.
First Published on Jun 29, 2018 01:06 pm
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