Strong interest from investors in the primary market continues. Two important IPOs, Vidya Wires and Meesho, received an excellent response from investors on the last day of bidding on Friday. The IPO of winding and conductivity products maker Vidya Wires was oversubscribed by 26.59 times, while the IPO of e-commerce giant Meesho was even more subscribed by 79.02 times.
Meesho’s IPO subscribed 79.02 times
SoftBank-backed e-commerce company Meesho’s Rs 5,421 crore IPO received an overwhelming response on the last day of bidding on Friday, and was subscribed 79.02 times. According to NSE data, the company received bids for 21,96,29,80,575 shares as against 27,79,38,446 shares.
Investor Categories:
Qualified institutional buyers’ share 120.18 times
Quota of non-institutional investors 38.15 times
And the share of retail individual investors was subscribed 19.04 times.
Raised Rs 2,439 crore from anchor investors
On the very first day of sale on Wednesday, Meesho’s IPO received 2.35 times subscription, in which there was active participation from all categories of investors. The company had raised Rs 2,439 crore from anchor investors on Tuesday. The price band of this IPO has been kept at Rs 105–111 per share, and at the upper end the valuation of the company comes to Rs 50,096 crore ($5.6 billion).
Who subscribed Vidya Wires IPO and how much?
Non-institutional investors quota was subscribed 51.98 times. The retail individual investors category was subscribed 27.86 times and the qualified institutional buyers category was subscribed 5.12 times. Within hours of opening on Wednesday, Vidya Wires’ IPO was fully subscribed and received 2.89 times subscription by the end of the first day.
Price band Rs 48–52 per share
The company, which makes winding and conductivity products, had raised Rs 90 crore from anchor investors on Tuesday. The price band of this IPO has been fixed at Rs 48-52 per share. The public issue involves issuance of new shares worth Rs 274 crore and includes an OFS (offer for sale) of 50.01 lakh shares, worth Rs 26 crore.
Latest Business News