The company which was tapping the capital markets with its simultaneous fresh issue to raise Rs 200 crs and an offer for sale of 30,05,770 shares made allocation to anchor investors.
The price band of the issue was Rs 930-938. The company allocated 15,28,789 equity shares to 15 anchor investors comprising of 25 entities. The issue received excellent response and was oversubscribed over 47 times. QIB Portion was subscribed 76.89 times, HNI 101.15 times and Retail portion 8.48 times.

There were issues about the valuation being just under 200 times because of the aberration of raw material spike in the year 2017 which have been since addressed. The issue seems interesting and caters to the bottom of the pyramid with 80% of its Rs 900 cr topline coming at a price point of Rs 5. The total sales by the company in terms of packet per day is at the 1 cr mark and growing.

The issue was open between Friday the 22nd of September and Tuesday the 26th of September.

Details of the subscription are given below: –