Lotus Eye Care extends IPO closing date to June 20
Lotus Eye Care Hospital has extended the closing date of its 1,00,00,000-share initial public offering to June 20.
By ET Online |
MUMBAI: Lotus Eye Care Hospital has extended the closing date of its 1,00,00,000-share initial public offering to June 20. The issue opened on June 12 and was to originally close on June 17. Further, the price band has been revised downward to Rs 36-Rs 38 per share from Rs 38-Rs 42 earlier.
The company has been forced to extend the closing date due to poor response given the weak secondary market. The issue was subscribed 0.61 times till 5 pm on Tuesday, as per the NSE website. The issue received 61,29,750 bids, of which around 23,32,200 were at the cut off price. The issue constitutes 48.09 per cent of the fully diluted post issue capital.
The qualified institutional buyers��� portion of 50,00,000 shares was subscribed 0.68 times, non-institutional investor portion of 15,00,000 shares was subscribed 0.13 times, while the retail portion of 35,00,000 shares was subscribed 0.70 times.
The IPO proceeds will be utilized to finance the expansion of existing facilities, establish new centers with latest technology, meet working capital requirement.
Keynote Corporate Services is the sole book running lead manager to IPO.
The company has been forced to extend the closing date due to poor response given the weak secondary market. The issue was subscribed 0.61 times till 5 pm on Tuesday, as per the NSE website. The issue received 61,29,750 bids, of which around 23,32,200 were at the cut off price. The issue constitutes 48.09 per cent of the fully diluted post issue capital.
The qualified institutional buyers��� portion of 50,00,000 shares was subscribed 0.68 times, non-institutional investor portion of 15,00,000 shares was subscribed 0.13 times, while the retail portion of 35,00,000 shares was subscribed 0.70 times.
The IPO proceeds will be utilized to finance the expansion of existing facilities, establish new centers with latest technology, meet working capital requirement.
Keynote Corporate Services is the sole book running lead manager to IPO.
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