Vishwaraj Sugar IPO Subscribed 62% On Second Day Of Bidding

Vishwaraj Sugar IPO Subscribed 62% On Second Day Of Bidding

Vishwaraj Sugar IPO Subscription Details

Vishwaraj Sugar IPO subscribed 62% on the second day of bidding. The IPO opened for subscription on 30th September. It received bids for 26 percent of the shares against a total of 1 crore equity shares on the first day of bidding.

On the second day of subscription, the Vishwaraj Sugar IPO received bids for 61.98 lakhs shares against the total of 1,00,00,000 equity shares. The qualified institutional investors and non-institutional investors subscribed successfully concerning its reserved portion. Meanwhile, retail investors subscribed to 12 percent.

The IPO comprises an offer for sale of 70,00,000 equity shares and 30,00,000 shares as a fresh issue. The price bad of the issue is Rs 55 to Rs 66 per equity share.

The market lot size of the issue is 240 equity shares while the minimum order quantity is 240 shares in multiple of 40 equity shares thereafter. Aryaman Financial Services is the book running lead manager to the issue.

VSL involved in the manufacture of sugar and distillery products. Besides, the firm engaged in the production of electricity by using the byproducts of sugar. 

The issue closes for subscription on 4th October.

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