January 31, 2018 / 1:07 PM / 21 days ago

India's Galaxy Surfactants $147 million IPO subscribed nearly 20 times

(Reuters) - Speciality chemicals maker Galaxy Surfactants Ltd’s initial public offering (IPO) of shares to raise 9.37 billion rupees ($147.1 million) was subscribed nearly 20 times on the last day of the sale on Wednesday.

Investors bid for 88.1 million shares, or 19.9 times the 4.4 million shares on offer, stock exchange data as of 1258 GMT showed. bit.ly/2DQIvuD

ICICI Securities Ltd, Edelweiss Financial Services Ltd and JM Financial are managing the IPO.

($1 = 63.6800 Indian rupees)

Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Amrutha Gayathri

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