Astron IPO subscribed 243 times

Astron Paper and Board Mill received a whopping response from investors for its IPO, with the issue being subscribed 242.73 times on Wednesday, the last day of bidding. The retail portion of the offer was subscribed 76.26 times, qualified institutional buyer portion 103.36 times, and non-institutional investor portion 396.99 times, according to a press release. The portion set aside for the company’s employees was subscribed 2.69 times. The Kirit Parekh-led company was looking to raise ₹70 crore through a fresh issue of 1.4 crore shares, of which qualified institutional buyers were allotted around 10 per cent, retail investors around 35 per cent and employees 5 per cent.