MIC Electronics IPO subscribed over 50 times
The initial public offer (IPO) of MIC Electronics, Hyderabad-based manufacturer of LED video display systems, got subscribed by over 50 times on its last day.
By PTI |
MUMBAI: The initial public offer (IPO) of MIC Electronics, Hyderabad-based manufacturer of LED video display systems, got subscribed by over 50 times on its last day.
The company today received 25.79 crore bids for its offer of 51 lakh equity shares, getting subscribed 50.59 times, as per latest data available on the stock exchanges.
The IPO has received overwhelming response from foreign institutional investors and domestic mutual funds.
The firm has fixed the price band between Rs 129-150 per equity share.
The public offer constitutes 25.34 per cent of the company's fully diluted post-issue paid-up equity capital.
However, the IPO of Insecticides (India) Ltd, received only 1.93 lakh bids on its second day of issue today, latest data shows.
The company entered the capital markets with 32.10 lakh equity shares of Rs 10 each for cash at a price band of Rs 97 to Rs 115.
The net issue to the public is 31,77,900 equity shares, which constitutes 25.06 per cent of the fully-diluted post- issue paid-up capital of the company. The issue would close on May 11.
Besides, Binani Cement's offer, issuing 2.05 crore equity shares at a price band of Rs 75 to 85, also recevied lukewarm response getting only 7.34 lakh bids on its second day of offer.
The issue would close on May 10. Binani Cement is focused on key markets in northern India with a significant presence in Rajasthan, Haryana and Delhi besides Gujarat in Western India.
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