Vitrified ceramic tiles manufacturer Decolight Ceramics' Initial Public Offer on Tuesday got fully subscribed on last day of its offer.The IPO received 1.44 crore bids for 94.54 lakh offers, getting oversubscribed 1.53 times, latest data available on the stock exchanges shows.
The price band has been fixed between Rs 45 to 54. The company plans to raise Rs 43.45 crore through a 100 per cent book-building process.The IPO received decent response from retail investors with the portion reserved for them getting oversubscribed 3 times while the Qualified Institutional Buyers segment remained undersubscribed, latest data shows.
The proceeds of the issue would be used to raise capital to finance its expansion, which includes raising capacity of vitrified tiles from 6,000 square meters to 12,000 square meters per day.It has also proposed to set up two wind generators having a capacity of 1.25 MW and 2.1 MW each.
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