PB Fintech subscribed 16.9 times

K. S. Badri Narayanan | | Updated on: Nov 03, 2021
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Sigachi over 100 times; SJS Enterprises 1.6x

All the three public issues that closed for subscription on Wednesday sailed through comfortably with Sigachi Industries, the smallest among them, hogging the limelight. While SJS Enterprises subscribed on the last day, PB Fintech got robust response from all category of investors.

The ₹5,710-crore IPO of PB Fintech, owners of Policy Bazaar and Paisa Bazaar, was subscribed 16.59 times on the final day. The price band of the issue was ₹940-980 a share.

While retail investors portion received bids for 3.31 times, qualified institutional buyers (QIB) window saw bids for 24.89 times and non-institutional investors' (widely known as high net worth individuals or HNIS) got 7.82 times.

The offer comprised a fresh issue of ₹3,750 crore worth of equity shares and an offer for sale of about ₹1,960 crore by existing shareholders.

Anchor investors

Ahead of the IPO, PB Fintech had garnered about ₹2,569 crore from anchor investors by allocating about 2.62 crore shares to 155 anchor investors at ₹980 apiece.

NIIs’ portion

SJS Enterprises, which came out with ₹800 crore issue, was subscribed 1.59 times. The IPO from decorative aesthetics company received bids of 1.68 crore shares against the offered 1.05 crore, according to data available on the bourses.

The portion set aside for non-institutional investors has been subscribed 2.32 times while QIB had put in bids for 1.42 times and retail investors 1.38 times.

The initial public offering was entirely an offer for sale of shares worth ₹710 crore by Evergraph Holdings Pte Ltd and shares to the tune of ₹90 crore by KA Joseph.

Thumbs up for Sigachi

However, Sigachi Industries that came out with ₹125 crore issue, witnessed overwhelming response of over 100 times.

As against 53.86 lakh shares on offer, the issue received bids for 54.89 crore shares, making the total subscription to 101.91 times.

While QIB portion got 86.51 times, the window reserved for NIIs and retail investors received bids for 172.43 times and 80.49 times.

Published on November 03, 2021

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