Just Dial IPO subscribed 50% on Day 1
Just Dial's IPO has been subscribed 50 percent so far, as per data available on National Stock Exchange website. The price band for the issue, which will close on May 22, is at Rs 470-543 a share.
The Rs 950-crore initial public offer (IPO) of Just Dial has received good response on first day of subscription Monday, helped by qualified institutional buyers (QIBs).
The issue has been subscribed 50 percent so far, as per data available on National Stock Exchange website.The reserved portion of QIBs subscribed 72 percent and retail investors 14 percent.The issue received bids for 68.37 lakh equity shares as against issue size of 1.35 crore shares. The price band for the issue, which will close on May 22, is at Rs 470-543 a share. Mumbai-based company, which provides search services over phone and web, will raise anywhere between Rs 822-950 crore depending on the final issue price. Also Read: Valuation a key argument: Udayan on Just Dial IPOThe company already raised over Rs 208 crore through issue of 39.37 lakh equity shares to anchor investors including Goldman Sachs India Fund, HSBC Bank (Mauritius) Ltd, Birla Sunlife Trustee Company Pvt Ltd, DSP Blackrock Opportunities Fund and Deutsche Securities Mauritius Ltd.Retail investors will get a discount of 10 percent on the issue price.Citi and Morgan Stanley are the book running lead managers to the issue. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
