Comments
The initial public offering of L&T Technology Services got subscribed 2.5 times on the last day of the offer on Thursday.
The ₹900-crore IPO received bids for 1,83 crore shares, against the total issue size of 72.80 lakh shares, data available with the NSE showed.
The price band is fixed at ₹850-860 a share.
The portion reserved for qualified institutional buyers (QIBs) was subscribed 5.01 times while non-institutional investors had bid for 1.03 times their quota and retail investors’ portion was subscribed 1.75 times.
L&T Technology Services had last week raised over ₹268 crore from anchor investors. It had allotted 31.2 lakh shares at ₹860 a piece to anchor investors including Sundaram Mutual Fund, DSP Blackrock Focus 25 Fund, FIL Investments (Mauritius), Blackrock India Equities (Mauritius), Parvest Equity Worl .
GNA Axles Meanwhile, the IPO of Jalandhar-based GNA Axles evoked good response as the issue got subscribed by 2.03 times the total issue size, at the end of bidding process on Day 2. The IPO, which opened for subscription on Wednesday, closes on Friday. As against an offer size of 44.7 lakh shares, the issue got subscription for 90.80 lakh shares till Thursday.
While the QIB portion was subscribed 0.79 times, the non-institutional and retail investor portions received 2.15 and 2.85 times subscription, respectively. Ahead of the IPO, GNA Axles had raised around ₹38 crore from anchor investors by selling shares at ₹207 apiece.
The manufacturer and supplier of a diverse range of rear axle shafts and spindles for light, medium and heavy commercial vehicles plans to raise ₹130 crore through the issue in a price band of ₹205-207 a share.
NCDs flavour The non-convertible debenture (NCD) issue of Indiabulls Housing Finance also saw overwhelming response. The ₹3,500-crore issue, which opened on Thursday, was subscribed 191 per cent. The interest from investors was evident within a few hours of the opening of the issue, which closes for subscription on September 23.
The issue, which has a greenshoe option to retain another ₹3,500 crore, carries interest rate in the range of 8.65 per cent to 9.15 per cent. It plans to use the proceeds for its lending and financing activities and to repay some of its existing expensive borrowings and for other corporate purposes.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.