Apollo Micro IPO subscribed 9 times on Day 2

The initial public offering (IPO) of Apollo Micro Systems, which caters primarily to the defence and aerospace sectors, was subscribed 9 times on the second day of bidding in Thursday. The IPO, to raise ~1.56 billion, received bids for 37,244,150 shares against the total issue size of 4,144,955 shares, data available with the NSE showed. The category set aside for qualified institutional buyers (QIBs) was subscribed 3.25 times, non institutional investors 1.58 times and retail investors 15.14 times. Till yesterday the IPO was subscribed 2.14 times. Apollo Micro Systems on Tuesday raised nearly ~470 million from anchor investors. Price band for the offer, which would close tomorrow, has been fixed at ~270-275.