Plethico Pharma IPO subscribed 25.63 times

Mumbai, Apr 18: Plethico Pharmaceuticals, one of India's fastest growing pharmaceutical companies in the herbal and nutraceuticals space having global presence, closed yesterday its initial public offering (IPO) for subscription.

The issue was through 100 per cent book-built route and it has been subscribed 25.63 times.

The qualified institutional buyers, Qualify Institution Bidders (QIBs), portion has been subscribed 25.32 times.

The non-institutional investors portion has been subscribed 45.84 times and the retail investor's portion has been subscribed 19.53 times, the release said.

The price band has been fixed at Rs 280 to Rs 300.

Plethico expects to raise Rs 110 crore through the IPO. Of the total issue, 60 per cent will be allocated to QIBs, 10 per cent to non-institutional investors and the balance to the retail investors.

The shares will be listed on the Bombay Stock Exchange and the National Stock Exchange, the release added.

UNI