Apollo Micro Systems Ltd, initial public offer (IPO) has opened for subscription today .i.e January 10 and the issue will close on January 12. The minimum lot size for subscription has been fixed at 50 equity shares and in multiples of 50 shares thereafter.

The company has fixed a price band of Rs.270-275 per share for the IPO, through which it is expected to raise Rs.156 crore. Proceeds from the issue will be used for meeting additional working capital and other general corporate purposes.

Further, a discount of Rs.12 on the issue price will be offered to retail investors and to eligible employees. The sole book running lead manager to the issue is Aryaman Financial Services and the equity shares are proposed to be listed on NSE and BSE.

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