Gokul Refoils IPO got subscribed only 0.46 times till the close of the market on Monday as per NSE. The issue received 32,82,930 bids against the offer of 71,58,392 shares. The price band for the issue was Rs175-195 per share. The non-institutional portion was subscribed 0.77 times, qualified institutional investors subscribed 0.37 times and the retail portion was subscribed 0.18 times. The issue is going to close on Tuesday.
The issue consists of reservation of 75,000 equity shares for employees and 70,83,392 equity shares for public.
The company plans to raise up to Rs140 crore a at the upper end of the price band and the purpose behind this issue is to set up a new 1,500 TPD soyabean processing plant along with expansion of its existing edible oil refinery at Surat, investment in its wholly-owned Singapore based subsidiary, funding part of its long term working capital, investment in increasing warehousing capacities and ongoing capex for existing units.
The book running lead managers for the issue are Anand Rathi Financial Services and Intensive Fiscal Services.
The issue consists of reservation of 75,000 equity shares for employees and 70,83,392 equity shares for public.
The company plans to raise up to Rs140 crore a at the upper end of the price band and the purpose behind this issue is to set up a new 1,500 TPD soyabean processing plant along with expansion of its existing edible oil refinery at Surat, investment in its wholly-owned Singapore based subsidiary, funding part of its long term working capital, investment in increasing warehousing capacities and ongoing capex for existing units.
The book running lead managers for the issue are Anand Rathi Financial Services and Intensive Fiscal Services.
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