CreditAccess Grameen IPO subscribed 86% so far on last day of issue
CreditAccess Grameen’s initial public offering (IPO) was subscribed over 1.91 times on last day of issue so far.
The IPO, worth Rs 1,131 crore, got bids for 3.58 crore shares against a total issue size of 1.88 crore shares, data available with NSE, as of 3 pm, revealed.
The portion reserved for qualified institutional buyers (QIBs) was subscribed 5.28 times, non-institutional investors 0.5614 times and retail investors 0.6294 times.
The public offer comprises of fresh issue of up to Rs 630 crore and an offer for sale of up to 11,876,485 shares, including anchor portion of 8,041,617 shares.
The company managed to raise over Rs 339 crore from anchor investors. Price band for the offer has been fixed at Rs 418-422 per share.
ICICI Securities, Credit Suisse Securities (India) Private, IIFL Holdings and Kotak Mahindra Capital Company are managing the issue.