The public offer of Abans Holdings, the financial services arm of Abans Group, has received bids for 58.75 lakh shares against an IPO size of 1.28 crore shares, subscribing 46 percent on December 14, the third day of bidding.
Retail investors have bought 32 percent shares of the allotted quota, and high net worth individuals 17 percent of the reserved portion.
The portion set aside for qualified institutional buyers has been subscribed 2.19 times.
The company has reserved 10 percent of the offer for qualified institutional investors, 30 percent for high net worth individuals and the remaining 60 percent for retail investors.
The offer opened for subscription on December 12, and will close on December 15.
Incorporated in 2009, Abans Holdings, which is primarily engaged in financial services, gold refining, jewellery, commodities trading, agricultural trading and warehousing, software development and real estate, is planning to raise Rs 345.60 crore via public issue of 1.28 crore shares at upper end of price band.
The price band for the offer has been fixed at Rs 256-270 per share.
Click Here To Read All IPO Related News
The IPO comprises a fresh issuance of shares worth Rs 102.6 crore, and an offer for sale of Rs 243 crore by promoter Abhishek Bansal.
Abans Holdings is going to finalise IPO share allotment by December 20, while the refunds will be credited to unsuccessful investors by December 21, and the shares will be transferred to eligible investors by December 22.
The company will list its equity shares on the BSE, and NSE on December 23.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
