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CreditAccess Grameen IPO subscribed 86% so far on last day of issue

10 August, 2018 7:33 AM
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CreditAccess Grameen IPO subscribed 86% so far on last day of issue

CreditAccess Grameen’s initial public offering (IPO) was subscribed 86 percent so far on Day 3 of bidding.

The IPO, worth Rs 1,131 crore, got bids for 1.62 crore shares against a total issue size of 1.88 crore shares, data available with NSE, as of 12:45 pm, revealed.

The portion reserved for qualified institutional buyers (QIBs) was subscribed 2.42 times, non-institutional investors 0.068 times and retail investors 0.4665.

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.

Also read: US investor T Rowe Price approached Bombay HC over Unit Trust of India's (UTI's) IPO issue

Source: moneycontrol.com

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