The New Delhi-based multi-brand retail chain V-Mart’s IPO sailed through on the last day of its subscription on Tuesday after being oversubscribed by 1.16 times.

The issue entailed an offer for about 38,21,600 shares and received bids for 44,35,596 shares, according to data on the NSE Web site. Maximum bids on the BSE were received at the price of Rs 195, which was the lower end of the price band of Rs 195-215 announced by the company.

The retail chain operator had already raised Rs 14.16 crore through anchor investors' portion and allocated 6,74,400 equity shares to anchor investors at a price of Rs 210 a share. The majority of about 64.7 per cent of this portion has been allocated to IDFC Premier Equity Fund while the balance 35.3 per cent has gone to Morgan Stanley Mutual Fund.

manisha.jha@thehindu.co.in

(This article was published on February 5, 2013)
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