Galaxy Surfactants IPO gets negligible subscription on the opening day - Indian IPO Blog

Saturday, May 14, 2011

Galaxy Surfactants IPO gets negligible subscription on the opening day

Galaxy Surfactants IPO, which opened for subscription from Friday, May 13, 2011, received terribly poor response on the opening day, with the IPO receiving bids for only 1160 Equity Shares in the HNI Category and 12760 Equity Shares in the Retail Category with no bids received from the QIB Investors

The IPO consists of 59,30,000 Equity Shares of Rs. 10/- each [including anchor portion of 889,500 equity shares]. The number of shares offered / reserved in the QIB Category are 20,75,500, in the HNI Category 889,500 shares and in the Retail Category, the number of shares offered / reserved are 20,75,500

The Equity Shares are offered in a Price Band of Rs.325/- to Rs.340/- per equity share with a bid lot of 20 Equity Shares and in multiples thereof. The IPO would remain open for subscription till Wednesday, May 18, 2011 for QIB Investors and till Thursday, May 19, 2011 for other categories of investores

Galaxy Surfactants Limited is engaged in the business of manufacturers and marketers of surfactants and specialty chemicals in India for the Personal and Home Care industry. Galaxy Surfactants produce a range of cosmetic ingredients including active ingredients, UV protection and functional products. Company's products used by many large FMCG companies in skin care, hair care, oral care, body wash, sun care, household cleaners and fabric care products

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