Astron Paper and Board Mills IPO subscribed 94 pc on Day 1

Astron Paper and Board Mills' initial public offer (IPO) was subscribed 94 per cent on the first day of bidding today.
The IPO to raise Rs 70 crore received bids for 1,31,69,520 shares against the total issue size of 1,40,00,000 shares, data available with the NSE showed.
The portion set aside for qualified institutional buyers (QIBs) was oversubscribed 1.50 times, non institutional investors 10 per cent and retail investors 2.24 times.
The issue, which would close on December 20, is in the price band of Rs 45-50.
Pantomath Capital Advisors Private Limited is the book running lead manager to the offer.
The equity shares of the company are proposed to be listed on the NSE and BSE.