The initial public offering of Apex Frozen Foods Pvt. Ltd got oversubscribed 45% on the second day of the public issue on Wednesday.
Retail investors led the show with the portion earmarked for them being covered almost three times. HNIs and corporates bid for around 45% or just around half of their portion. So far, institutional investors have refrained from bidding for the shares of the firm.
The company is planning to raise Rs 152 crore from the IPO which opened on Tuesday. The total issue size is 62.1 lakh shares. The issue closes on Thursday.
The producer of aquaculture products on Monday raised Rs 43.57 crore (around $6.8 million) via a share sale to anchor investors ahead of its three-day IPO. Apex Foods raised the capital from three mutual fund firms–HSBC Mutual Fund, Reliance Mutual…