CreditAccess Grameen IPO subscribed 1.37 times so far on last day
As of 2pm, the Rs 1,131-crore CreditAccess Grameen IPO received bids for 25,855,620 shares against the total issue size of 18,829,684 shares
New Delhi: The initial public offer (IPO) of microfinance firm CreditAccess Grameen Ltd was subscribed 1.37 times so far during the last day of bidding on Friday. The Rs 1,131-crore IPO has received bids for 25,855,620 shares against the total issue size of 18,829,684 shares, data available with the NSE till 2pm showed. Till Thursday, the offer was subscribed 37%. The IPO comprises of fresh issue of up to Rs 630 crore and an offer for sale of up to 11,876,485 shares, including anchor portion of 8,041,617 shares.
CreditAccess Grameen had on Tuesday raised over Rs 339 crore from anchor investors. Price band for the offer, which opened for subscription on Wednesday, has been set at Rs 418-422 per share.
Analysts believed CreditAccess Grameen IPO to raise upto Rs 1,131 crore is priced aggressively with a price band of Rs 418-422 per share, and have expressed concerns over near term gains, Mint reported.
The Bengaluru-based firm had filed draft papers with the Securities and Exchange Board of India (Sebi) to float an IPO in January and received the regulator’s go-ahead in June.
ICICI Securities, Credit Suisse Securities (India), IIFL Holdings and Kotak Mahindra Capital Company are managing the issue.
Editor's Picks »
- Ultratech gets CCI nod to acquire Century cement business
- S&P hits record high, equals longest-ever bull run
- Opinion | Disruption and innovation in the legal industry
- Lesson from devastation in Kerala: Investing in new knowledge for the future
- Nokia maker HMD aims to double India revenues in four-six months
- MakeMyTrip’s attempts to juggle between growth and profitability
- Kerala’s SoS may not have major impact on asset quality of banks
- Subsidy sharing concerns loom for state-run upstream oil firms
- L&T is better off rewarding investors given the poor investment avenues
- Coal India’s share sale plans eclipse bright outlook for FY19