New Delhi, Sept. 10 -- The initial public offering (IPO) of CPVC and UPVC pipes and fittings manufacturer Vigor Plast India concluded with decent subscription. The NSE SME IPO opened for subscription on Thursday, September 4, and concluded on Tuesday, September 9, with an overall subscription of nearly 4 times.

The SME IPO, with a price band of Rs.77 to Rs.81 per share was a combination of fresh issue of 24,99,200 shares and offer for sale of 6,00,000 shares. The company aimed to raise Rs.20.24 crore from the fresh issue of shares which it will utilise for the repayment of certain borrowings, to fund capital expenditure towards the development and construction of new warehouse in Ahmedabad, Gujarat, and for general corporate purposes.

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