Aster Silicates Limited which had tapped the capital markets with its IPO in a price band of Rs 112 to Rs 118 to raise Rs 53 crs was oversubscribed. The issue received response from HNI’s and retail investors while QIB’s gave the issue a pass by with subscription for a mere 1% of the allocation.
Readers will recall that in my article I had pointed out glaring irregularities in the issue.
| Category | Shares offered | Shares Bid | Subscription Ratio |
| QIB | 2370535 | 32000 | 0.01 |
| NII | 711161 | 8861800 | 12.46 |
| Retail | 1659375 | 12289800 | 7.41 |
| TOTAL | 4741071 | 21183600 | 4.47 |
Like
