Kiri Dyes IPO subscribed 1.43 times on the last day

MUMBAI: The initial public offer of 37.5 lakh equity shares of Kiri Dyes and Chemicals was on Wednesday subscribed 1.43 times up to 5 pm, as per the NSE website.

The issue received 53,49,960 bids. Around 30,49,110 bids were received at cut off price.

The company has fixed a price band of Rs 125-Rs 150 per share. The issue constitutes 25 per cent of fully diluted post issue paid up capital. The issue closed today.

The qualified institutional investors' portion of 18,75,000 shares was subscribed 0.92 times, while 5,62,500 shares allocated to non-institutional investor received 1.84 times subscription. However, the retail portion was subscribed only 0.17 times of the 13,12,500 shares allocated to them.

The company has made pre-IPO placement of 12,50,000 shares comprising 1,31,140 shares at Rs 120 and 11,18,860 shares at Rs 115 per share.