Apex Frozen Foods IPO Fully Subscribed

New Delhi: Apex Frozen Foods' IPO or initial public offer was subscribed 1.12 times so far on the second day of bidding.

The IPO of Apex Frozen Foods, which deals in aquaculture products, with an aim to raise up to Rs. 152 crore, received bids for 69,46,240 shares as against the total issue size of 62,10,000, National Stock Exchange (NSE) data till 2:45 pm showed.

Apex Frozen on Monday raised over Rs. 43 crore from anchor investors. The Apex Frozen Foods IPO will close on Thursday.

The offer of up to 87 lakh shares, including the anchor portion of 24,90,000, with a face value of Rs. 10 each is in the price band of Rs. 171-175.

At the upper-end, it can fetch up to Rs. 152.25 crore while at the lower limit, the company will raise at least Rs. 148.77 crore.

"" data-width="1">Full ViewThe IPO comprises fresh issue of 72.50 lakh shares and an offer for sale of 14.50 lakh by promoters.

Proceeds from the issue will be utilized towards setting up a new shrimp processing unit with a capacity of 20,000 tonnes per annum in Andhra Pradesh and for general corporate purposes.

Apex Frozen Foods shares will be listed on stock exchanges NSE and BSE.