The IPO of Jyothy Laboratories received strong investor responce. As per data on the NSE website updated till 17:00 IST today, the IPO was subscribed 44.94 times. The issue received bids for 19.90 crore shares as against the issue size of 44.30 lakh shares. The IPO closed today.

The issue was subscribed 2.14 times by qualified institutional buyers, 0.05 times by non-institutional buyers and 0.54 times in the retail section.

The FMCG company had fixed price band of Rs 620-690 for the IPO. It would raise Rs 274 crore at the lower end of the band and Rs 305 crore at the higher end.

The offer would constitute 30.52% of the post issue paid up capital of the company. Post-issue the stake of the promoters would be 69.47%.

The company has drawn up Rs 40 crore capital expenditure plan for FY08. It plans to leverage the dominant Ujala brand with other branded fabric care products, utilise its wide distribution network and marketing expertise, improve efficiencies and manage costs and increase focus on supermarket and hypermarket sale.

The present investors, including Canzone, ICICI Bank Canada, ICICI Bank UK Plc, South Asia Regional Fund and CDC Investment Holdings, are selling their 44,30,250 equity shares through the IPO. The remaining stake is held by founder chairman M P Ramachandran and his family.

Jyothy Labs is engaged in the fabric care, household insecticide, surface cleaning, personal care and air care segments of the Indian market. It offers branded products including fabric whitener, mosquito repellent, dishwashing, bath and incense products.

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