The initial public offerings by Fonebox Retail, Delaplex and Docmode Health Technologies, which opened for their second day of bidding on January 29, have seen healthy demand from investors.
Amongst them, Fonebox Retail IPO topped the list, getting subscribed 164.62 times as investors bought 34.3 crore equity shares against offer size of 20.84 lakh equity shares.
Retail investors looked aggressive in supporting the issue, buying 291.1 times the allotted quota, and non-institutional investors picked 143 times the portion set aside for them, while qualified institutional buyers bid 3.82 times the reserved portion.
The Gujarat-based smartphones and accessories retailer intends to raise Rs 20.37 crore through its public issue, which comprises only a fresh issue of 29.10 lakh equity shares. The price band for the book built issue has been fixed at Rs 66-70 per share.
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Most fresh issue funds will be utilised by the company for working capital requirements, apart from general corporate purposes and public issue expenses.
The initial public offering of Delaplex, the subsidiary of US-based firm Delaplex Inc, has been subscribed 27.12 times on the second day of bidding. Investors picked 4.65 crore equity shares against IPO size of 17.17 lakh equity shares.
In this issue too, retail investors were at the forefront, buying 81.2 times the portion set aside for them. Non-institutional investors have bought 27 times the allotted quota and qualified institutional buyers 67 percent the reserved portion.
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The technology and software development solutions provider opened its maiden public issue on January 25, with a target to raise Rs 46.08 crore. The IPO consists of fresh issuance of shares worth Rs 34.56 crore and an offer-for-sale of Rs 11.52 crore shares by the promoter Delaplex Inc.
The fresh issue proceeds will be used mainly for advertisement, sales and marketing expenses towards enhancing the awareness; and working capital requirements. The money will also be utilised for purchase of office laptops, and unidentified inorganic acquisition.
Docmode Health Technologies' IPO has been subscribed 23.28 times on January 29, the second day of bidding. The fixed price issue will close on January 30.
Retail investors have bought 40.75 times the portion set aside for them, while the reserved portion of non-institutional investors and qualified institutional buyers picked 8.3 times.
Docmode, which provides learning solutions for healthcare professionals and learners worldwide, aims to mobilise Rs 6.71 crore through the public issue of 8.49 lakh equity shares at a price of Rs 79 per share.
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