Coaching services provider MT Educare's IPO has been subscribed 1.25 times on Day 2, supported by qualified institutional buyers (QIBs) and high networth investors.
The issue has received bids for 1.38 crore equity shares as against issue size of 1.099 crore shares (excluding anchor book), as per exchange data.
The reserved portion of QIBs has subscribed 1.35 times and non-institutional investors 3.6 times. All bids were at higher end of price band of Rs 74-80 a share.
The issue will close for subscription on March 29, which consists of fresh issue of Rs 35 crore and an offer for sale of up to 80 lakh equity shares by Helix Investments Company.
MT Educare, popularly known as Mahesh Tutorials provides coaching services to students in the secondary, higher secondary school and pursuing graduation degree in commerce, preparing for various competitive examinations and undertaking chartered accountancy examinations.
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