Moneycontrol
you are here: HomeNewsBusinessIPO
Sep 09, 2017 10:51 AM IST | Source: Moneycontrol.com

Dixon Technologies IPO oversubscribed 118 times on strong response from investors

The reserved portion of qualified institutional investors saw subscription of 134.66 times while the portion set aside for retail investors has been oversubscribed 10.60 times and non-institutional investors 345.61 times.

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

The Rs 600-crore public issue of Dixon Technologies has received overwhelming response from investors on Friday, the last day for subscription.

The issue has oversubscribed 117.83 times, as per data available on the NSE.

The issue received bids for over 28 crore equity shares against issue size of 23.76 lakh shares (excluding anchor investors' portion that already received good response).

The reserved portion of qualified institutional investors saw subscription of 134.66 times while the portion set aside for retail investors has been oversubscribed 10.60 times and non-institutional investors 345.61 times.

The public issue consisted of fresh issue of Rs 60 crore and an offer for sale of upto 30,53,675 equity shares (including anchor portion of 10,18,027 equity shares).

The company aims to raise Rs 597.44-599.27 crore through the issue, at a price band of Rs 1,760-1,766 per share.

Dixon already raised Rs 179.78 crore from anchor investors, including Kuwait Investment Authority Fund, Goldman Sachs India, DSP BlackRock Micro Cap Fund, Steadview Capital Mauritius, ICICI Prudential Growth Fund and SBI Life.

It will use issue proceeds for setting up a unit for manufacturing LED TVs at its Tirupati facility; enhancement of backward integration capabilities in the lighting products vertical at Dehradun facility and upgradation of the information technology infrastructure; for repayment of loans; and for general corporate purposes.

IDFC Bank, IIFL Holdings, Motilal Oswal Investment Advisors and Yes Securities are the book running lead managers to the issue.
Sections
Follow us on
Available On