CreditAccess Grameen IPO subscribed 86% on last day of bidding

The IPO got bids for 1.62cr shares against a total issue size of 1.88cr shares, as per NSE data.

Aug 10, 2018 08:08 IST India Infoline News Service

Initial Public Offer, IPO
Bengaluru-based leading micro-finance institution Credit Grameen's initial public offering (IPO) has been subscribed 86% so far on the last day of bidding.

The IPO received bids for 1.62cr shares against a total issue size of 1.88cr shares, as per NSE data.

The portion reserved for qualified institutional buyers (QIBs) was subscribed 2.42 times, non-institutional investors, 0.068 times, and retail investors, 0.4665 times.

The price band for the issue has been fixed at Rs418 to Rs422 per share.

The Book Running Lead Managers (BRLMs) for the IPO are ICICI Securities, Credit Suisse Securities (India), IIFL Holdings, and Kotak Mahindra Capital Company.

The IPO is for the issuance of equity shares of face value Rs10 each (equity shares) for cash at a price per equity share (including a share premium) (offer) aggregating up to Rs630cr (fresh issue) and an offer for sale of up to 11,876,485 equity shares by the promoter CreditAccess Asia NV.

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