The plastic products manufacturing company, Manika Plastech, launched its initial public offering (IPO) today, with the issue receiving 84 percent subscription, as of 1:10 pm on September 11, as per NSE data.
The Rs 125.5-crore IPO opened for public subscription on September 11 and will remain open until September 16. The company has fixed the price band at Rs 40-43 per share.
In the grey market, Manika Plastech shares were commanding a premium of 23.26 percent over the upper price band of Rs 43 on September 11, as per InvestorGain. Grey market premiums are unofficial indicators and can change before listing.
Ahead of the IPO opening, Manika Plastech raised Rs 37.6 crore from four anchor investors.
The company said in an exchange filing on Thursday that it allotted 87.55 lakh equity shares to anchor investors at Rs 43 per share, the upper end of the price band.