According to data available on the National Stock Exchange (NSE), the issue has been oversubscribed 52 times as of 2:00 pm on Friday—the closing day of the issue. It received bids worth for 232.63 crore shares against the total issue size of 4.43 crore shares.
The reserved portion of qualified institutional buyers oversubscribed 48.7 times while the portion set aside for non-institutional investors subscribed 90.7 times and that of retail investors 5.76 times, according to CNBC-TV18.
The company targets raising Rs 1,870 crore at a higher end of the price band of Rs 295-299 through the issue, which opened on Wednesday. On Tuesday, the firm raised nearly Rs 561 crore by allotting shares to anchor investors.
The IPO is the biggest since PNB Housing Finance’s Rs 3,000 crore offer in October last year.
Avenue Supermarts has reserved 50 percent portion of public issue for qualified institutional buyers and out of which, 60 percent may be allocated to anchor investors. Meanwhile, 15 percent portion of the total issue size is reserved for non-institutional investors and the rest 35 percent for retail investors.
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