The initial public offering of contract electronics manufacturer Dixon Technologies Ltd was fully covered midway through the second day on Thursday driven by strong demand from retail and institutional investors.
The public offering of 2.37 million shares, excluding the anchor allotment, received bids for a little over 2.47 million shares, stock-exchange data showed. The book was subscribed 1.05 times.
The qualified institutional buyers’ category was covered 1.34 times the 6.79 million shares on offer. The retail portion, in which bids cannot exceed Rs 2 lakh, was covered nearly 1.3 times the 1.18 million shares on offer. The portion set aside for non-institutional investors, comprising corporate bodies and wealthy individuals, was covered about 7%.
The IPO had already crossed the three-fourth mark on its first day on Wednesday.
The Noida-based company, which counts Motilal Oswal as its private equity backer, had on Tuesday raised Rs 179.78 crore ($28.04 million) by selling 1.01 million shares to a bunch of institutional…