The IPO opened on March 12 and closed on March 14. The allotment of the IPO is expected to be announced on March 15. Investors can check the allotment status on the registrar’s website, Link Intime India, or BSE website.
In the issue, the company offered its shares in the price band of ₹280-295 per share with a lot size of 50 shares. Through the IPO, the company aimed to raise ₹601.55 Crore, which included a fresh issue of ₹250 Crore and an offer-for-sale (OFS) of up to 11,917,075 equity shares.
The issue was subscribed 1.23 times. The quota for qualified institutional bidders (QIBs) was oversubscribed by 1.97 times, and the portion reserved for retail investors and employees saw bidding for 1.05 times and 7.59 times, respectively. Non-institutional investors subscribed to 66% of the shares.
Employees remained ahead, buying 7.59 times the reserved portion. The automobile dealer has reserved ₹1 Crore worth of shares for its employees, which will be issued at a discount of ₹28 per share to the final issue price.
The company is in the business of automobile dealerships in India and provides complete services throughout the lifecycle of vehicle ownership.
Shares of the company are expected to be listed on both BSE and NSE on March 19.
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