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Chemplast Sanmar IPO Is Out For Bidding In The Market Through Subscription

Chemplast Sanmar IPO
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The Chemplast Sanmar IPO began its subscription bidding on the 10th of August. 26% of the IPO was subscribed by the second day of the bidding, 11th August. This is quite good for the company. The reserved portion of the retail investors has been booked about 1.29 times.

The non-institutional investors have also seen a 6% subscription according to the subscription data available on the exchange. The institutional buyers have chipped in about 3.42 lakh equity shares in the bids. This has been done against the reserved portion of 2.17 crore equity shares in the market.

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Data Available For Chemplast Sanmar IPO

Chemplast Sanmar IPO has planned to sell about Rs 3,850 crore with the fresh issue of about Rs 1,300 crore through the IPO system. The offer for sale has been set up for Rs 2,550 crore with the help of the shareholders as well. The shares of the company are being traded at a value of Rs 15 in the grey market. This indicates that the trading price in the market will be about Rs 556. This is 2.7% higher when compared to the upper end of the price band of Rs 541.

What Are Your Ideas?

What are your views on the Chemplast Sanmar IPO and the rate that it is being subscribed to by the interested traders? Do you think this will be good for the company in the long run? Let us know your views in the comment section below.

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