The plan is to raise around Rs 350 crore as a primary offering into the company and another 1.63 million shares of secondary sales by investors, said sources
Good demand from institutions, HNIs
The company will raise Rs 350 crore as primary offering
Issues Rs 358 crore interim dividend, 1:10 bonus and 10:1 split
The IPO received bids for 15,870,960 shares against the total issue size of 17,229,118 shares
Last year in Nov, the market regulator had shortened IPO listing time to six days from 12 days
Given the company's past track record, growth prospects and reasonably valuations, long-term investors can subscribe to the offer
This is the second firm to list at a discount to issue price after ICICI Pru Life which listed 1% below its issue price
Analysts say there is some room for upside on listing gains
Jhunjhunwala is said to have made a large application in the ICICI Prudential Life Insurance IPO, which fell 10.7 per cent on debut
Retail portion of OFS garners just 30% subscription with 3.8 million bids against 12.9 million on offer
The issue proceeds will be utilised for repayment of loans, construction of new stores and general corporate purposes
The company's public issue was oversubscribed 10 times
To raise an estimated Rs 500 crore through an initial public offering
Over 200,000 investors applied in the IPO
The 141-year-old exchange has about 9,000 shareholders. It received Sebi's in-principle approval in March this year
Demand for L&T Tech was tepid, as investors stayed away, having lost money on group concern L&T Infotech
This will include embedded value, details on policies, value of new business and their maturity apart from financial information