The Ludhiana-based company, which raised ₹78 crore from anchor investors on October 18, plans to use ₹142 crore of net fresh issue proceeds to repay debt and meet working capital needs, with the balance allocated for general corporate purposes.
The retail quota has been subscribed 39.66 times, whereas its non-institutional investor (NII) category has been subscribed 82.44 times.
The subscription period runs from October 21 to October 23.
By 15:13 pm on Tuesday, the second day of subscription, the issue had been subscribed 9.96 times, with bids for 8,90,51,970 shares.
The IPO will likely be listed on both the BSE and NSE, with trading anticipated to begin on October 28, 2024.
As of 3:27 pm, the IPO was subscribed 3.06 times. The retail portion had received maximum bids being oversubscribed 4.81 times.
The total IPO size is ₹260.04 Crore, with ₹217.21 Crore raised from the issuance of fresh shares and ₹42.83 Crore allocated for the OFS.
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