The initial public offering of Snowman Logistics, an integrated temperature-controlled logistics services provider, has received an overwhelming response from investors. The issue was oversubscribed 60.5 times, making it the largest IPO subscription in the current decade.
As against an offer for 3.255 crore shares, the company received bids for 194.49 crore shares, according to the latest BSE data. The issue has received more than ₹9,000 crore worth of bids as against the actual size of ₹197 crore (at the higher end of a ₹44-47 price band).
The retail portion of the IPO has already been oversubscribed 12.5 times while the allotment to qualified institutional buyers was oversubscribed 1.5 times.
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