New Delhi, Aug 11 (PTI) The initial share sale of specialty chemicals maker Chemplast Sanmar was subscribed 26 per cent on Wednesday, the second day of subscription.

The company's initial public offer (IPO) received bids for 1,03,36,950 shares against 3,99,52,829 shares on offer, as per exchanges data.

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The quota for retail investors was subscribed 1.29 times, while that for Qualified Institutional Buyers (QIBs) 2 per cent and non institutional investors 6 per cent.

The initial public offer aggregating up to Rs 3,850 crore has a fresh issue of up to Rs 1,300 crore and an offer for sale of up to Rs 2,550 crore.

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The price range for the offer has been fixed at Rs 530-541 per share.

On Monday, Chemplast Sanmar said it has collected over Rs 1,732 crore from anchor investors.

ICICI Securities, Axis Capital, Credit Suisse Securities (India), IIFL Securities, Ambit Private Limited, BOB Capital Markets, HDFC Bank, IndusInd Bank and YES Securities (India) Limited are the managers to the offer.

Chennai-based Chemplast Sanmar is a leading specialty chemicals manufacturer with focus on specialty paste polyvinyl chloride resin and custom manufacturing of starting materials and intermediates for pharmaceutical, agro-chemical and fine chemicals sectors.

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