Electrosteel IPO subscribed 8.23 times; Orient IPO 1.07 times
Electrosteel Steels has garnered good demand from investors for its maiden public offer, which was oversubscribed 8.23 times by the end of the issue.
By PTI |
NEW DELHI: Electrosteel Steels has garnered good demand from investors for its maiden public offer, which was oversubscribed 8.23 times by the end of the issue on Friday
The company received demand for over 185.6 crore shares, as against 22.55 crore shares on offer, as per data available with the National Stock Exchange.
The issue was oversubscribed 5.86 times in the portion reserved for QIBs. Bids for QIBs closed yesterday, while today was the last date for bidding by retail and non-institutional buyers. The IPO was launched on September 21.
In the portion reserved for HNIs, the IPO was oversubscribed 28.58 times and in the retail category, 5.4 times, merchant banking sources told PTI.
The company has entered the market with an IPO in the price band of Rs 10 to Rs 11 per share.
The issue comprises 22,55,16,188 shares and has a green shoe option for up to 3,38,27,428 equities. At the upper end of the price band, the IPO is valued at about Rs 248 crore, excluding the green shoe option.
Enam Securities, Edelweiss Capital Ltd and SBI Capital Markets are the book running lead managers to the issue.
The company, promoted by Electrosteel Castings Ltd, is engaged in the business of steel.
Meanwhile, the IPO of Orient Green Power was also fully subscribed by the end of issue today, as per NSE data.
The issue, through which the company aims to raise Rs 900 crore, was oversubscribed 2.09 times in the portion reserved for qualified institutional buyers. Book building for QIBs was closed yesterday.
Today was the last date for bidding by retail and non- institutional buyers. The IPO was launched on September 21.
The firm has entered the capital market with an issue in the price range of Rs 47 to Rs 55 per share. The offering was launched on September 21.
Orient Green Power Company, promoted by Shriram EPC, is an operator and developer of renewable energy power plants.
The Chennai-based power producer plans to utilise the IPO proceeds to part-finance its capex plan, among other things.
JM Financial Consultants, Goldman Sachs India Securities, UBS Securities India and Axis Bank are the book running lead managers to the issue.
The company received demand for over 185.6 crore shares, as against 22.55 crore shares on offer, as per data available with the National Stock Exchange.
The issue was oversubscribed 5.86 times in the portion reserved for QIBs. Bids for QIBs closed yesterday, while today was the last date for bidding by retail and non-institutional buyers. The IPO was launched on September 21.
In the portion reserved for HNIs, the IPO was oversubscribed 28.58 times and in the retail category, 5.4 times, merchant banking sources told PTI.
The company has entered the market with an IPO in the price band of Rs 10 to Rs 11 per share.
The issue comprises 22,55,16,188 shares and has a green shoe option for up to 3,38,27,428 equities. At the upper end of the price band, the IPO is valued at about Rs 248 crore, excluding the green shoe option.
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Enam Securities, Edelweiss Capital Ltd and SBI Capital Markets are the book running lead managers to the issue.
The company, promoted by Electrosteel Castings Ltd, is engaged in the business of steel.
Meanwhile, the IPO of Orient Green Power was also fully subscribed by the end of issue today, as per NSE data.
The issue, through which the company aims to raise Rs 900 crore, was oversubscribed 2.09 times in the portion reserved for qualified institutional buyers. Book building for QIBs was closed yesterday.
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Today was the last date for bidding by retail and non- institutional buyers. The IPO was launched on September 21.
The firm has entered the capital market with an issue in the price range of Rs 47 to Rs 55 per share. The offering was launched on September 21.
ADVERTISEMENT
Orient Green Power Company, promoted by Shriram EPC, is an operator and developer of renewable energy power plants.
The Chennai-based power producer plans to utilise the IPO proceeds to part-finance its capex plan, among other things.
JM Financial Consultants, Goldman Sachs India Securities, UBS Securities India and Axis Bank are the book running lead managers to the issue.
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