Big Hit: Syngene's IPO subscribed 32 times

Syngene's IPO (initial public offering) received an overwhelming response, it was subscribed 32 times on its last day on 29 July.

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This is said to be the second-highest subscription to an IPO so far in 2015

Syngene's public offer opened for subscription on 27 July with a price band of Rs 240-250 per share.

The company's IPO received bids for 51.28 crore shares (51,24,24,840) as against 1.6 crore (1,60,00,000) shares on offer, thus generating demand for shares worth over Rs 17,000 crore, according to the data available with the NSE.

This is said to be the second-highest subscription to an IPO so far in 2015 after VRL Logistics which was subscribed 74 times.

Syngene International is a wholly owned subsidiary of Biocon.

 

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