Manoj Vaibhav IPO subscribed 2.25 times on last day of subscription
The company, a regional jewellery brand in South India, has a presence in Andhra Pradesh and Telangana, with 13 showrooms across eight towns and two cities.
)
The Initial Public Offering (IPO) of Manoj Vaibhav Gems N Jewellers was subscribed 2.25 times on the last day of subscription on Tuesday. The initial share sale got bids for 2,05,05,627 shares against 91,20,664 shares on offer, as per NSE data.
The portion allotted for non-institutional investors was subscribed 5.18 times while the category for retail individual investors received 1.66 times subscription. The Qualified Institutional Buyers (QIBs) part was subscribed 1.06 times.
The IPO had a fresh issue of up to Rs 210 crore and an offer for sale of up to 2,800,000 equity shares. The price range for the offer was at Rs 204-215 per share. The company mopped up Rs 81.05 crore from anchor investors on Thursday.
TRENDING NOW
The company, a regional jewellery brand in South India, has a presence in Andhra Pradesh and Telangana, with 13 showrooms across eight towns and two cities.
The funds raised will be utilised for opening eight new showrooms, inventory for these stores and general corporate purposes. Bajaj Capital and Elara Capital (India) were the managers to the offer. The equity shares are proposed to be listed on the BSE and the NSE.
Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.
10:31 pm
Valiant Lab IPO subscribed 71% on day two of subscription
IPO boom in 2017: BFSI sector steals the show 
IPOs continue their winning streak in 2017