The initial public offering of Creative Graphics Solutions India has attracted strong interest from investors, getting subscribed 187.82 times on April 4, the final day of bidding.
Investors have bid for 85.94 crore equity shares against the IPO size of 45.76 lakh equity shares, as per the subscription data published by exchanges.
Non-institutional investors led the charge, buying 473.2 times the portion set aside for them, followed by retail investors who picked 144.6 times the reserved portion. Qualified institutional buyers bid 98.8 times the allotted quota.
The flexographic printing plates maker launched the maiden public issue of 64 lakh equity shares on March 28 with the plan to mobilise Rs 54.4 crore at the upper price band. The IPO comprised of only a fresh issue by the company.
The price band for the book built issue was fixed at Rs 80-85 per share.
The Uttar Pradesh-based company has already raised Rs 15.5 crore through anchor book on March 27.
Also read: NSE waiting for SEBI nod to launch IPO, ready to begin process: CEO Ashish Chauhan
Total eight institutional investors - BofA Securities Europe, QRG Investments, Finavenue Capital Trust, Persistent Growth Fund, Vikasa India EIF I Fund, Absolute Returns Scheme, Acintyo Investment Fund, and Astrone Capital - have been allotted 18.24 lakh equity shares by the company in the anchor book.
Creative Graphics, which serves customers across India as well as Africa, Thailand, Qatar, Kuwait and Nepal, is going to spend Rs 15 crore out of the fresh issue proceeds for working capital requirements, Rs 11 crore for repaying debts, Rs 10 crore for capex, and Rs 5 crore for inorganic growth through unidentified acquisition.
Meanwhile, Aluwind Architectural's IPO also closed on Thursday, after receiving 7.62 times subscription since March 28, the first day of bidding. Investors have bought 5.03 crore equity shares against issue size of 66 lakh equity shares.
Also read: UPL plans to launch IPO of its seeds business, Advanta Ent, in early FY25: Report
The Rs 29.7-crore public issue by the aluminium products manufacturer has received bids 5.3 times the reserved portion in the institutional and non-institutional investors category, while retail investors picked 10.71 times the part set aside for them.
The price for the fixed price issue was Rs 45 per share.
Both companies will finalise the basis of allotment of IPO shares by April 5, while the equity shares will be credited to demat accounts of successful investors by April 8.
The trading in their equity shares will commence on the NSE Emerge, with effect from April 9.
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