The initial public offer (IPO) of Astec LifeSciences has received full subscription today, on the final day of issue. The issue opened on 27 October 2009. Latest data suggest that the issue received total bids for more than 87.61 lakh shares from the investors, about 1.17 times more than 75 lakh equities on offer.

Astec LifeSciences, has plans to raise up to Rs 61.5 crore through an initial public offering (IPO) of 75 lakh equity shares of Rs 10 each. The issue, which will open tomorrow, would remain open for subscription till November 4, 2009. The company has fixed the price band between Rs 77 and Rs 82 per share.

Mumbai-based firm is engaged in the manufacture and sale of intermediates, active ingredients and formulations in the off patent-proprietary category with a focus on agrochemicals and pharmaceutical sector.