The initial public offer (IPO) of Galaxy Surfactants received bids for 8.86 crore shares, data on NSE showed. The IPO was subscribed 20 times. The company had fixed the IPO price band of Rs 1,470 to Rs 1,480 per share. The IPO had opened on 29 January 2018 and closed on 31 January 2018.

Category-wise subscription details showed that the qualified institutional buyers (QIBs) category was subscribed 54.27 times, the non-institutional investors category was subscribed 6.96 times and the retail individual investors (RIIs) category received subscription of 6.01 times.

Ahead of the opening of the IPO, the board of directors of the company at its meeting held on 25 January 2018 finalized allocation of 18.99 lakh equity shares to 25 anchor investors at Rs 1,480 per share.

The current offer comprised an offer for sale of 63.32 lakh shares by promoters and group. At the lower price band of Rs 1,470 per share, the size works out to Rs 930.76 crore. At the higher price band of Rs 1,480, the issue size is Rs 937.09 crore. The objects of the issue is to achieve the benefits of listing the equity shares on the BSE and the NSE, to enhance visibility and brand image and provide liquidity to the existing shareholders.

On a consolidated basis, Galaxy Surfactants reported net profit of Rs 75.16 crore on total income of Rs 1197.28 crore in Q2 September 2017.

Galaxy Surfactants manufactures surfactants and other speciality chemicals for the personal- and home-care industries. Products finds application in a host of consumer-centric personal- and home-care segments including skin-, oral- and hair-care, cosmetics, toiletries and detergent products.