Garment Market

S P Apparels IPO Fully Subscribed

S P Apparels IPO Fully Subscribed

Garment maker S P Apparels’ preliminary public providing bought totally subscribed with the aid of afternoon at present, the final day of the challenge.

The IPO acquired bids for 70,05,020 shares, an over-subscription of 1.07 instances, the NSE knowledge till 1230 hrs confirmed.

The public present can fetch a complete of up to Rs 456 crore by means of a combo of contemporary issuance of equity shares and via an offer on the market route. This includes elevating up to Rs 215 crore by means of the fresh problem of shares.

Cost band has been constant at Rs 258-268 per share.

The company has already raised almost Rs seventy-two crores from anchor traders with the aid of promoting 26.76 lakh shares at Rs 268 per share.

The e-book running lead managers are Motilal Oswal funding Advisors and Centrum Capital.

S P Apparels is a company and exporter of knitted clothes for babies and kids.

In 2015-16, the enterprise exported around 35.98 million portions of knitted clothes for babies and youngsters immediately to worldwide buyers, together with Tesco and Primark.

Image source : vanillanews.com

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