The issue received bids for 1.87 million shares, representing 0.20 times of the shares on offeR.
The first da
y of Mahindra Holidays initial public offer (IPO), which opened on June 23, Tuesday, was devoid of any fireworks. The issue got subscribed only 20 per cent on the first day of its issue with most of the bids coming in from institutional investors.
The issue received bids for 1.87 million shares, representing 0.20 times of the shares on offer, as per data available with the National Stock Exchange.
There is no cause for worry, though. Given the interest from qualified institutional buyers (QIB), by the time the issue closes on June 26 (Friday), it may be fully subscribed
Given that most of the bids are coming at the lower end of the price band (Rs 275-325), the hospitality firm could end up mopping close to Rs 250 crore, about Rs 50 crore less than what it could have raised had the bids come at the upper end of the band.
The largest IPO in 12 months has been subscribed 0.2 times or one fifth of the issue has found takers on day 1. The first day applications shows that QIBs were the most active investors with one third of the issue portion reserved for QIBs seeing bids.
Interest among other investors was much lower with non institutional investors bidding for just 1% of what was reserved for them and retail investors bidding for less than 3% of their portion.
For further details visit as : in.reuters.com/article/indiaDeals/idINIndia-40669220090629
The first da
y of Mahindra Holidays initial public offer (IPO), which opened on June 23, Tuesday, was devoid of any fireworks. The issue got subscribed only 20 per cent on the first day of its issue with most of the bids coming in from institutional investors.The issue received bids for 1.87 million shares, representing 0.20 times of the shares on offer, as per data available with the National Stock Exchange.
There is no cause for worry, though. Given the interest from qualified institutional buyers (QIB), by the time the issue closes on June 26 (Friday), it may be fully subscribed
Given that most of the bids are coming at the lower end of the price band (Rs 275-325), the hospitality firm could end up mopping close to Rs 250 crore, about Rs 50 crore less than what it could have raised had the bids come at the upper end of the band.
The largest IPO in 12 months has been subscribed 0.2 times or one fifth of the issue has found takers on day 1. The first day applications shows that QIBs were the most active investors with one third of the issue portion reserved for QIBs seeing bids.
Interest among other investors was much lower with non institutional investors bidding for just 1% of what was reserved for them and retail investors bidding for less than 3% of their portion.
For further details visit as : in.reuters.com/article/indiaDeals/idINIndia-40669220090629
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