The initial public offer of speciality chemicals company Anupam Rasayan India was subscribed 3.64 times on the second day of subscription on Monday. The Rs 760-crore issue received bids for 3,53,30,067 shares against 97,01,809 shares on offer, as per NSE data. The portion for qualified institutional buyers (QIBs) was subscribed 37 per cent, non-institutional investors 1.39 times and retail individual investors (RIIs) 6.60 times. The price range for the offer, which started on Friday, has been fixed at Rs 553- 555 per share. Anupam Rasayan had on Wednesday raised Rs 225 crore from anchor investors. The initial public offer (IPO) is an entirely fresh issuance of equity shares and proceeds of the issue would be mainly used to pay the debt.
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