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SP Apparels' IPO subscribed 2.65 times

The price band for the IPO was Rs 258-268 per share

SP Apparels' IPO subscribed 2.65 times

SPApparels'initialpublicoffering(IPO)receivedtepidresponsewiththeofferingseeingjusttwotimesmoredemandthansharesonoffer.Theinstitutionalinvestorsegmentwassubscribed2.2times,highnetworthindividualsegmentwassubscribed5.1timesandretailcategorygarneredjust1.9timessubscription. ThepricebandfortheIPOwasRs258-268pershare.TheapparelmanufacturerhasraisedaroundRs215crorefromtheIPO.Theproceedswillbeusedforrepaymentofdebt,settingupofnewmanufacturingfacilitiesandsettingupofnewstores.