The initial public offer of Shubhshree Biofuels Energy got subscribed by a whopping 119.37 times on the last day of subscription on Wednesday.
The public offer of Shubhshree Biofuels Energy received bids for 11,91,82,800 shares against 9,98,400 shares on offer, according to the NSE data.
The initial public offering (IPO) of Shubhshree Biofuels Energy is entirely a fresh issue of 13.92 lakh shares. The company had fixed a price band at Rs 113-119 a share.
The company intends to utilise the proceeds of IPO to fund the capital expenditure towards the installation of additional plant and machinery, to meet the working capital requirements, and general corporate purpose.
Established in 2013, Jaipur-based Shubhshree Biofuels Energy supplies biomass fuels, including biomass pellets and briquettes, to customers operating in the recycled material, textile processing, pharmaceutical, metal, etc. sectors.
Meanwhile, the Rs 45.88-crore IPO of Aditya Ultra Steel subscribed 10.22 times on the f
