Shubhshree Biofuels Energy IPO Subscribed 119.37 Times on Final Day
The initial public offer (IPO) of Shubhshree Biofuels Energy was subscribed 119.37 times on its final day. The IPO witnessed bids for 11,91,82,800 shares against 9,98,400 available. The company plans to use the funds for capital expenditure, working capital, and general corporate purposes.
- Country:
- India
Shubhshree Biofuels Energy's initial public offering (IPO) saw overwhelming interest, being subscribed by 119.37 times on its final subscription day, Wednesday.
According to NSE data, the IPO attracted bids for 11,91,82,800 shares against the 9,98,400 shares available.
The IPO consists entirely of a fresh issue of 13.92 lakh shares, with a price band set at Rs 113-119 per share. Proceeds from the offering will be used to fund capital expenditure for new plant and machinery installations, meet working capital needs, and for general corporate purposes.
Founded in 2013, Shubhshree Biofuels Energy is based in Jaipur and supplies biomass fuels such as pellets and briquettes. Meanwhile, the Rs 45.88-crore IPO of Aditya Ultra Steel saw a subscription of 10.22 times.
Gajanand International Ltd's IPO also witnessed a significant subscription rate of 14.28 times on its final day.
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