Syngene IPO over-subscribed

The IPO received bids for 1,60,79,700 shares as against 1,60,00,000 shares on offer.

Jul 29, 2015 01:07 IST India Infoline News Service

Peter Bains, Chief Executive Officer, Syngene International Ltd
Biocon's research arm Syngene International's initial public offering was over-subscribed on the second day of the offer. 
The IPO received bids for 1,60,79,700 shares as against 1,60,00,000 shares on offer, resulting in a subscription of 1.01 (rpt) 1.01 times, according to NSE data.
The qualified institutional buyers category was over-subscribed 1.22 times, while non-institutional investors portion saw 16% subscription. 
The price band has been fixed between Rs. 240 and Rs. 250 per share. 

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