Qualified Institutions Buyers (QIBs) oversubscribed their allocated portion by 44.58 times.
The company has received bids for 95,04,22,000 shares against 37,24,000 shares on offer, according to data on chittorgarh.com.
Out of the net proceeds from the offering, Accent Microcell intends to use Rs 54.39 crores to build a new plant in Navagam Kheda, Gujarat, India. It plans to produce carboxymethylcellulose (CMC), sodium starch glycolate (SSG), and croscarmellose sodium (CCS). They anticipate the plant to commence commercial operations by April 2025.
Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.
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