The BSE stock exchange’s Initial Public Offering (IPO) of equity garnered 51 per cent subscription on Monday, first day of the Rs 1,240-crore issue. The retail (for small investors) portion of the issue was subscribed 86 per cent. That for high net worth individuals and institutional portion was subscribed 12 and 16 per cent, respectively. The IPO will remain open till Wednesday. The offer is is entirely a secondary share sale by existing investors. BSE on Friday raised Rs 363 crore by allotting 4.6 million shares to anchor investors at Rs 806 each.
The price band for the IPO is Rs 805-806. At the top end, the bourse will be valued at Rs 4,400 crore.
Retail brokerages give thumbs-up to IPO
Retail-focused brokerages have recommended their clients to subscribe to the Rs 1,240-crore initial public offering (IPO) of BSE. Excerpts:
India Infoline: “Valuations justified”
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