Fineotex Chemical Limited IPO : Subscribed 0.53 times on Day 1

by khalid on 24/02/2011 · 0 comments

The IPO of Fineotex Chemical Limited has received a little response from the investors with the 1st day over-subscription figure reached to just 0.53 times on an overall basis. Fineotex Chemical IPO is open on 23rd Feb 2011 and will get closed on 25th Feb 2011 for subscription. The IPO has managed to get some what better response from Retail Individual Investors Category where it overbid by 1.477 times on the 1st day of subscription. The price band for the issue is Rs 60 at lower level and Rs 72 at upper level. Fineotex Chemical Limited is mainly engaged in the business of Specialty Chemicals and Enzymes for various industries like Textile & Garment Industry, Construction Industry, Leather Industry, Water Treatment Industry, Agrochemicals, Adhesives and others.

The category-wise subscription status of IPO on closing of 1nd day is given below:-

Qualified Institutional Buyers (QIBs) : 0.00 times
Non Institutional Investors : 0.08 times
Retail Individual Investors : 1.47 times
Overall : 0.53 times

The equity shares offered through the IPO are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

The Sole Book Running Lead Manager (BRLM) to the offer is Indbank Merchant Banking Services Limited.

Registrar of the Issue : Bigshare Services Pvt. Ltd. Mumbai.

Stay tuned to BelltheBull Blog for more news on Fineotex Chemical Limited IPO !

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