The public issue of Akme Fintrade India was subscribed 11.63 times on June 20 as investors bought 9.14 crore equity shares, against the IPO size of 78.65 lakh equity shares on the second day of bidding.
The Rs 132-crore initial public offering will close on June 21.
Non-institutional investors (high networth individuals) were at the forefront amongst participants, picking 22.22 times the portion set aside for them, followed by retail investors, who bought 15.16 times the allotted quota. The part reserved for qualified institutional investors was subscribed 0.17 times, and that of employees 1.56 times.
Also read: DEE Development Engineers IPO booked 9 times on Day 2, HNIs portion 21.7x
The non-banking finance company providing loans to rural and semi-urban areas opened its public issue on June 19 to raise Rs 132 crore solely via fresh issue of 1.1 crore equity shares at the upper price band. The said amount will be used mainly for augmenting its capital base to fulfil future capital requirements.
It has already raised Rs 37.62 crore on June 18, from four anchor investors including 3 Sigma Global Fund, SB Opportunities Fund, and Vikasa India EIF I Fund.
The price band for the issue has been fixed at Rs 114-120 per share.
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