Abans Holdings IPO subscribed 44% on day 3

Abans Holdings IPO has received muted response from the investors on day 3 of the offer. The offer is subscribed 44% on day 3 and QIB is booked more than twice. Click here to subscribe Abans Holdings IPO.

Abans Holdings is selling its shares in the price range of Rs 256-270 per share between December 12 and 15, with a lot size of 55 shares. The issue comprises issuance of fresh shares worth Rs 102.6 crore and an offer for sale (OFS) of Rs 243 crore.

The quota for retail bidders was subscribed 0.33 times whereas the allocation for non-institutional investors and qualified institutional bidders was booked 0.14 times. The allocation for qualified institutional buyers was subscribed 2.19 times.

The company plans to use ₹80 crore from the fresh issue proceeds for investing in its NBFC subsidiary, Aban Finance for financing the its capital base to meet its future capital requirements. Also, proceeds will be used for general corporate purposes.