New Delhi, Jan 12 (PTI) The initial public offer (IPO) of Apollo Micro Systems, which caters primarily to the defence and aerospace sectors, was subscribed a staggering 248.37 times on the last day of bidding today.

The IPO to raise Rs 156 crore received bids for 1,02,94,92,300 shares against the total issue size of 41,44,955 shares, data available with the NSE till 1945 hrs showed.

Apollo Micro Systems on Tuesday raised nearly Rs 47 crore from anchor investors.

Price band for the offer has been fixed at Rs 270-275.

Proceeds of the IPO will be used to meet additional working capital and for other general corporate purposes.

Shares of the company will be listed on NSE and BSE.

Aryaman Financial Services Limited is the book running lead manager to the offer.

This is published unedited from the PTI feed.