New Delhi, Oct 13 (PTI) Godrej Agrovet will start itsstock market innings on Monday after successfully concludingthe initial public offer (IPO) last week.
The Rs 1,157 crore IPO was a huge hit and oversubscribed95.41 times during October 4-6.
The portion meant for qualified institutional buyers(QIBs) was oversubscribed 150.96 times, non institutionalinvestors 236.04 times and retail investors 7.67 times, as perNSE data.
The issue comprised fresh issue of shares worth Rs 291.51crore besides an offer for sale worth up to Rs 300 crore byGodrej Industries and sale of up to 1.23 crore shares by V-Science.
The price band was fixed at Rs 450-460 per share.
Proceeds of the IPO would be utilised towards repaymentof loans and other general purposes.
Kotak Mahindra Capital Company, Axis Capital and CreditSuisse Securities (India) Pvt Ltd managed the company's issue.
The shares are proposed to be listed on BSE and NSE.
Godrej Agrovet is an agri-business company withoperations across five verticals - animal feed, cropprotection, oil palm, dairy, poultry and processed foods.
PTI SUMANU.
This is unedited, unformatted feed from the Press Trust of India wire.