Neetu Yoshi IPO subscribed 119 times, Adcounty Media India offer booked 252x on day 3: Check listing, allotment dates

Neetu Yoshi, Adcounty Media India IPO

Neetu Yoshi, and Adcounty Media India IPOs garnered strong interest from investors as both recorded triple-digit subscription numbers on July 1, the final day of bidding.

Both companies will finalise their IPOs share allotment by July 2.

Customised ferrous metallurgical products maker Neetu Yoshi's initial public offering saw 119.19 times subscription during June 27-July 1 period, with investors bidding 87.62 crore equity shares compared to the offer size of 73.52 lakh shares via 2.12 applications.

Non-institutional investors (NIIs) were at the leading position to boost subscription numbers, bidding 189.73 times their allotted quota. The portions set aside for qualified institutional buyers (QIBs), and retail investors were subscribed 96.36 times, and 91.21 times, respectively.

Uttarakhand-based Neetu Yoshi is raising Rs 77.04 crore via initial share sale of 1.02 crore equity shares at a price of Rs 75 per share.

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The company intends to utilise Rs 50.8 crore out of IPO proceeds for setting up of new manufacturing facility, and the remainder funds for general corporate purposes.

Meanwhile, the public issue of Adcounty Media India saw a massive 251.70 times subscription amongst the two. Investors bid 107.64 crore shares compared to the IPO size of 42.76 lakh shares via 3.06 lakh applications.

Here also, NIIs topped list in terms of subscription support, buying 397.93 times their reserved portions. Further, the allotted quotas of retail and QIBs were booked 229.37 times, and 137.33 times, respectively.

Digital marketing solutions provider Adcounty Media India shares launched its IPO last week to mobilise Rs 50.69 crore at a price of Rs 85 per share. These IPO funds will used for its capex, working capital requirements, and unidentified acquisition and general corporate purposes.

Neetu Yoshi, and Adcounty Media India shares will be available for trading on the BSE SME effective July 4.