New Delhi, June 23 -- Avience Biomedicals IPO share allotment is expected to be finalised on Tuesday, 23 June. The SME IPO, which opened on Thursday, 18 June, and concluded on Monday, 22 June, saw strong overall subscription of 385 times, with the segment reserved for retail investors subscribed 401 times, and the NII portion subscribed 597 times.

Avience Biomedicals' IPO was an entirely fresh issue of 14,53,800 shares, priced at Rs.196 to Rs.208 per share. The company intended to raise about Rs.30.24 crore through the issue, which it intends to utilise to set up a new manufacturing unit in Gautam Buddha Nagar, Uttar Pradesh. Some part of the net proceeds from the issue will be used to fund working capital requirements and for general co...