The initial public offering of Storage Technologies and Automation, the storage racking systems manufacturer, has received overwhelming response from investors, getting subscribed 258.61 times on May 3, the final day of bidding.
Investors picked 71.12 crore equity shares of the company, which operates Racks and Rollers brand, via the IPO, against offer size of 27.50 lakh equity shares, the BSE subscription data showed.
Non-institutional investors took the lead amongst them, buying 422.84 times the allotted quota, and retail investors came at the second spot, picking 242.74 times the reserved portion, while qualified institutional buyers bid 117.86 times the part set aside for them.
Storage Technologies and Automation planned to raise Rs 29.95 crore via public issue of 38.4 lakh equity shares at the upper price band, which comprises only a fresh issue.
The price band for the IPO, which opened on April 30, was fixed at Rs 73-78 per share.
Meanwhile, Amkay Products that produces a wide range of healthcare products also closed its initial share sale with a massive 693.44 times subscription on May 3, with investors buying 113.86 crore equity shares against IPO size of 16.42 lakh shares.
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Retail investors were at the forefront to support the IPO, picking 973.14 times the reserved portion, followed by non-institutional investors who bought 721.96 times the part set aside for them.
Even the response from qualified institutional investors was strong, who bid 173.04 times.
Amkay that makes medical devices, disposables, and other essential items used by healthcare centers, hospitals/clinics, and nursing homes opened its Rs 12.61-crore public issue on April 30, with a price band at Rs 52-55 per share.
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Further, Sai Swami Metals & Alloys was the third public issue, closing on Friday with a bumper subscription, as investors bought 128.98 crore equity shares, which was 515.93 times higher than the IPO size of 25 lakh equity shares.
Qualified institutional buyers, and non-institutional investors bid 558.5 times the allotted quota, and retail investors picked 529 times the reserved portion.
The Rs 15-crore initial public offering comprised of only a fresh issue by the company. It was a fixed price issue, with a price at Rs 60 per share.
Meanwhile, the Slone Infosystems IPO also recorded healthy subscription numbers as investors picked 2.67 crore equity shares, which was 19.07 times higher than the offer size of 14 lakh equity shares.
The IT hardware solutions provider intends to raise Rs 11.06 crore via initial share sale, at a price of Rs 79 per share. The issue will close on May 7.
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