Stocks

Godrej Agrovet IPO subscribed 89% till noon on Day 2

Our Bureau Chennai | Updated on January 08, 2018

Godrej Agrovet Ltd’s initial public offering (IPO) has been subscribed 89 per cent till noon session on Thursday, the second day of the share sale.

As of 12.30 pm, the IPO received bids for 1,60,45,056 shares against the total issue size of 1,80,27,464 shares, according to data available with the NSE.

On the first day, the IPO was subscribed 53 per cent. The portion of shares reserved for institutional investors received a subscription of 28 per cent, while the portion reserved for retail investors and non-institutional investors were subscribed 88 per cent and 10 cent, respectively.

Godrej Agrovet has raised ₹341.19 crore from 25 anchor investors. The company, which is planning to raise as much as ₹1,157 crore through an initial public offering, had allotted 74.17 lakh shares on Tuesday at ₹460 a share to 25 anchor investors.

The anchor investors include the Government of Singapore, First State Indian Subcontinent Fund, JP Morgan, Russell Investment Company, The India Fund Inc — Aberdeen, Goldman Sachs India, SBI MF, Reliance AMC, ICICI Prudential AMC, SBI Life Insurance and HSBC MF.

The IPO will close on Friday. The company’s shares will be listed on the BSE and the NSE.

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Published on October 05, 2017
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