Chalet Hotels' IPO subscribed 7% on Day 1 of bidding

The other IPO which also received huge responses were Happiest Minds Technologies and Chemcon Speciality Chemicals, which was subscribed 150.98 times and 149.3 times respectively. Interestingly, both these stocks have seen bumper listing gained over 100 percent. Let's see how the IPO subscription and listing happened in 2020 so far, considered only IPOs issue size over Rs 100 crore.

The initial public offer of Chalet Hotels, which owns, develops and manages high-end hotels in key metro cities in India, was subscribed 7 percent on the first day of bidding on Tuesday.

The IPO, to raise about Rs 1,641 crore, received bids for 27,85,574 shares against the total issue size of 4,13,26,672 shares, as per the data available with the NSE.

The category set-aside for qualified institutional buyers (QIBs) was subscribed 1 percent and non-institutional investors 30 percent.

The initial public offer comprises a fresh issue of Rs 950 crore and an offer for sale of up to 2,46,85,000 equity shares (including anchor portion of 1,75,84,071 equity shares).

The bidding will close on January 31, 2019.

The price range for the IPO has been fixed at Rs 275-280 per equity share.

This is the first IPO of 2019.

The equity shares of the company are proposed to be listed on the BSE and NSE.

JM Financial Limited, Axis Capital Limited and Morgan Stanley India Company Private Limited are managing the IPO.