The initial public offering of Hamps Bio attracted robust demand from investors, who subscribed 1,003.3 times on the final day of bidding, December 17. The shares will make a debut on the BSE SME on December 20.
The Gujarat-based company opened its Rs 6.2-crore public issue on December 13, the smallest IPO after Kizi Apparels's in August. The issue price was Rs 51 per share.
The BSE subscription data showed that investors subscribed for 122.4 crore equity shares in three days, compared to the offer size of 12.2 lakh shares, through 4.23 lakh applications.
Retail investors looked aggressive, bidding 1,342 times the portion set aside for them, while institutional and non-institutional investors picked 772 times their allotted quota.
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The company will finalise the basis of allotment of IPO shares by December 18.
Hamps Bio is engaged in the marketing and distribution of pharmaceutical formulation products, as well as the manufacturing of freeze dried and frozen products. It sells products through more than 50 distributors’ network, and e-commerce platform (including Amazon, Flipkart, Jio Mart etc). Further, it sells pharma products primarily in 8 states and union territories.
The IPO funds will be utilised for purchase of plant & machinery for FMCG division, awareness of the brand, and general corporate purposes.
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