Vertoz Advertising IPO sold 4.2 times

Mumbai, November 17

The IPO of Vertoz Advertising was subscribed 4.24 times. It received bids worth ₹72.47 crore against the IPO size of ₹17.11 crore.

The public issue of 15.84 lakh equity shares was priced at ₹108 a share. The issue constitutes 25 per cent of the post-issue paid-up equity capital of the company. The shares will be listed on November 24 on NSE Emerge.

The portion reserved for non-institutional investors was subscribed 5.4 times, while that for retail investorwas subscribed three times. The company received bids for 42.77 lakh shares in the non-institutional segment against 7.92 lakh shares offered; it received bids for 24.34 lakh shares in the retail segment against 7.92 lakh shares offered.

Vertoz will utilise the funds to fund its working capital requirements and for general corporate purposes.

Published on November 17, 2017

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