Sula Vineyards IPO gets subscribed more than 40% on day 2

13 Dec 2022 , 02:09 PM

During the second day of the bidding process, investors’ interest in Sula Vineyards’ Rs960.35 crore initial public offering (IPO) remained muted. The issue had a 28% day-one subscription rate.

Between December 12 and 14, the company will be offering its shares for sale at a price between Rs340 and Rs357 per share, in lots of 42 equity shares. The entire offering consists of an offer to sell (OFS) of over 2.69 crore equity shares.

According to BSE data, by 11.50 am on Tuesday, December 13, investors had submitted bids for 75,60,672 equity shares, or just 40% of the 1,88,30,372 equity shares offered for the subscription.

The retail bidders’ quota received 70% of the offers, while non-institutional investors’ quota received only 24%. However, the percentage reserved for legitimate institutional bidders was exactly right.

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