The primary offering from Apollo Micro Systems Limited was subscribed over 248 times. The company had launched its primary issue to raise Rs 156 crs in a price band of Rs 250-275. It had earlier allotted 16,96,050 shares to 3 anchor investors comprising of 4 entities. The largest allotment of 8,48,000 equity shares which is 50% of the anchor allotment was made to 2 entities of Sundaram Mutual Fund.

The issue was open between Wednesday the 10th of January and Friday the 12th of January. The issue received excellent response from all buckets but it was the HNI or non-institutional portion which has created history. The portion was subscribed a record 958.07 times. The cost of funding at this level is more than the issue price. The QIB portion was subscribed 101.93 times, HNI Portion 958.07 times, Retail portion 40.19 times and employee portion 16.94 times. The overall issue was subscribed 248.51 times. An issue which was looking to raise Rs 156 crs has garnered close to Rs 28,500 crs. Talk about liquidity in the market place. Things are becoming crazy.