FII subscribe to largest SME IPO

MUMBAI: Santi Educational Initiatives, the largest SME IPO on the BSE, managed to raise Rs 40 crore.

First time three FII have subscribed to the tune of 18crores in the IPO, bankers tracking the Issue said.

The issue got subscribed 1.52 times and Rs 60 crores have come through subscription.

Shanti Educational is engaged in the business of providing educational support services to preschools, K-12 and premium category preschools in India.

Since the beginning of the year, 27 companies have filed draft documents to collectively raise over Rs 220 crore through IPOs.

Of these, 21 firms have filed papers to launch IPOs on BSE's SME platform, while the six plan to list on NSE Emerge.