The IPO has been subscribed by 81% on the second day of bidding on Tuesday by the investors. The IPO of the mobile marketing company which aims to raise Rs459cr, received bids for 27,43,040 shares as against the total issue size of 33,78,021 shares, NSE data added.
The qualified institutional buyers (QIBs) portion was subscribed 37%, non-institutional investors subscribed 10%, and retail individual investors subscribed 3.21 times.
The price band for the issue has been fixed at Rs740 to Rs745 per share.
ICICI Securities Limited, Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers (“BRLMs”) to the Offer.
The equity shares of the company are proposed to be listed on the National Stock Exchange of India Limited and BSE Limited.