Initial Public Offering (IPO) from Chemprast Sanmar subscribed to 26 percent on August 11, the second day of the offer.

The retail investor reserve section was booked 1.29 times and non-institutional investors saw subscribing 6 percent, subscription data available on the exchange show.

The eligible institutional buyer has made an offer for 3.41 lakh shares of equity to the parts they reserve from 2.17 crore equity shares.

Chemperst Sanmar plans for Rs 3,850 Crore through the IPO consisting of a new edition of RS 1,300 Crore and offers for sale Rs 2,550 Crore by selling shareholders.

The company has mobilized 1,732.5 crore from an anchor investor, at the top of the ribbon price of Rs 530-541 per equity stock on August 9.

At present, the company’s shares are traded with RS 15 premiums in the Gray Market. It was translated into RS 556 trade prices, 2.7 percent higher than the top tip of Rs 541 price ribbon.