Claris Lifesciences Limited which had tapped the capital markets with an IPO to raise Rs 300 crs was finally subscribed. The issue was open from the 24th of November to the 26th of November. The issue was in a price band of Rs 278-293. Anchor Investors were allotted shares at the top end of the price band of Rs 293. The issue failed to garner adequate subscription and was extended by reducing the price band by the maximum permissible 20%.

In the second attempt the revised band was Rs 228-235 and the issue dates from 29th November to 2nd December. The issue was finally subscribed and had a total subscription of just about 1.5 times.

There is an interesting development which has happened during the course of this issue where the anchor investors have subscribed at the top end of the band and then the band itself has been changed. This is the first issue since anchor investors concept has been introduced that the price band has been changed post allotment to them. I believe whatever little understanding I have of the guidelines they have to stick with the price they have paid and just hope for the best.

Details of the subscription by various categories of investors are as follows: –

This issue had too many concerns about it and therefore had a real tough time finding the required support for the same. This website had highlighted these concerns in the article published earlier.