GreenSignal Bio Pharma IPO subscribed 16% on day 2

NEW DELHI: The initial public offer of vaccine manufacturing firm GreenSignal Bio Pharma was subscribed 16 per cent at the end of the second day of IPO on Thursday.

The Rs 112-crore IPO received bids for 23,62,500 shares as against the total issue size of 1,45,79,560 shares, data available with the NSE till 1700 hrs showed.

The portion set aside for non institutional investors was subscribed 2 per cent, while that of retail investors got oversubscribed 1.59 times.

The company has entered the capital market with its IPO of 1,45,79,560 shares of face value of Rs 10 each through an offer for sale.

It has fixed the price band at Rs 76-80. The issue is scheduled to close on Friday.

The shares are proposed to be listed on BSE and NSE.

The firm is into manufacturing of BCG vaccine given for protection against tuberculosis, mainly severe forms of child tuberculosis.