Syngene International Ltd (Syngene) has announced that its initial public offering (IPO) has been oversubscribed 31 times, based on the electronic bid file available on the websites of stock exchanges.
Qualified Institutional Bidders' (QIB) subscription stood at 51.47 times, while the non-institutional investor subscription was at 90.24 times. Retail subscription was 4.77 times.
The issue that opened for subscription on July 27 closed on July 29. The IPO offered for sale part of Biocon Ltd's shareholding in Syngene.
Price band for the offer was fixed between Rs 240 and Rs. 250 per equity share of Rs 10 each. Anchor investor bid period was on 24th July 2015 and the company allocated 60 lakh equity shares to anchor investors at a price of Rs 250 per equity share.
The equity shares being offered will be listed on the BSE and the NSE after requisite listing formalities are completed.