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Onelife Capital Advisors IPO subscribed 1.53 times
Financial service company Onelife Capital Advisors' (OCAL) initial public offering has subscribed 1.53 times on support from all type of investors, as per data available on NSE website.
Financial service company Onelife Capital Advisors ' (OCAL) initial public offering, which closed today, has subscribed 1.53 times on support from all type of investors, as per data available on NSE website.
The issue has received bids for more than 51 lakh equity shares as against issue size of 33.5 lakh shares.
Reserved portion of retail investors, qualified institutional buyers and non-institutional investors subscribed 2.5 times, 1.02 times and 0.93 times, respectively.
The company aims to raise Rs 36.85 crore through the issue at higher end of price band of Rs 100-110 per share, by diluting 25.07% stake.
Onelife Capital Advisors is a financial service company offering investment banking services and portfolio management and equity broking services. Company is focused on nurturing small and medium sized enterprises (SME) companies to source capital in various forms.
Company plans to spend IPO money for purchasing of corporate office at Mumbai (with cost of Rs 7 crore); development of portfolio management services (at cost of Rs 11.58 crore); and brand building activities (with cost of Rs 7.7 crore).
