Mumbai, Aug. 7 -- The initial public offer (IPO) of Essex Marine received bids for 1,20,04,000 shares as against 42,62,000 shares on offer. The issue was subscribed 2.81 times.

The issue opened for bidding on 4 August 2025 and it closed on 6 August 2025. The price of the IPO is fixed at Rs 54 per share. The equity shares will list on BSE's SME platform.

Qualified Institutional Buyers (QIBs) bid for 12,000 shares, Non-Institutional Investors (NIIs) for 19,80,000 shares, while Retail Individual Investors (RIIs) placed bids for 1,00,12,000 shares.

The IPO comprised fresh issue of 42,62,000 equity shares. The promoter shareholding dilute to 72.08% post- IPO from 99.99% pre-IPO.

The company intends to utilize the net proceeds for expanding...