JM Financial Successfully Closes Galaxy Surfactants IPO as Book Running Lead Manager

JM Financial has successfully led the Rs.937 Crores Initial Public Offering (IPO) by Galaxy Surfactants Ltd. as the Book Running Lead Manager (BRLM) among a 3-BRLM syndicate. With this, JM Financial continues to demonstrate its undisputed strength of consistently introducing unique business stories to public markets.

The IPO consisted of an Offer for Sale by Promoter & Other shareholders.

Key highlights of the IPO transaction:

  • JM Financial uniquely positioned Galaxy as a company with FMCG minus one in the value chain, but plus one in growth.
  • Strong institutional demand resulted in record IPO oversubscription across all categories & receiving bids worth about ~Rs. 10,000 Crores from marquee investors across India and the globe
    • QIB (ex-Anchor): ~54.27x
    • HNI: ~6.96x
    • Retail: ~6.01x
    • Overall: ~20x
  • JM Financial firmed up early interest in the Anchor book, with a judicious mix of well-known domestic and foreign investors like Eastspring, DSP Blackrock, SBI Mutual Fund, Birla Life & Infina Finance.
  • Garnered a near-100% conversion of follow-up interest from all our Anchor Investors into the main QIB book; thereby dominating Institutional Procurement share in the IPO
  • The Galaxy Surfactants IPO demonstrated exemplary performance in terms of number of application forms from Retail category investors procuring over ~ 11 lacs application forms

The Galaxy Surfactants IPO reinforces JM Financial end-to-end deal execution capability in introducing unique IPO stories to foreign and domestic institutional investors and also garnering stellar subscriptions from all categories

News&Announcement
News &
Announcements
Know More
Quick Download
Corporate
Brochure
toTop