India Pesticides issue subscribed 1.29 times; Retail portion booked 2.51 times on day 1

The portion reserved for retail investors was subscribed 2.51 times and the Non-Institutional Investor category was subscribed 0.19 times.

Jun 24, 2021 07:06 IST India Infoline News Service

Initial Public Offer, IPO
India Pesticides Limited (IPL) on Wednesday has received bids of 2,49,64,700 shares against the offered 1,93,10,345 equity shares, as per the 5:00 pm data available on the bourses.

The portion reserved for retail investors was subscribed 2.51 times and the Non-Institutional Investor category was subscribed 0.19 times. While the Qualified Institutional Buyer didn’t see any response on Day 1.

The total size of the offer is Rs800cr at the upper price band of Rs296 per share.

The Company raised Rs240cr through the Anchor Book and saw a good demand across 6 FPIs and 6 Domestic Institutions namely such as Abu Dhabi Investment Authority (ADIA), Wells Fargo, Plutus, Millenium, Tara, BNP Paribas SBI Mutual Fund, Nippon Mutual Fund, Tata Mutual Fund, Bajaj Allianz Life Insurance Company, Bharti AXA Life Insurance Company and Winro Commercial India.

Axis Capital Limited and JM Financial Limited are the BRLMs to the Offer.

Click here to know more on India Pesticides Limited 

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