Laxmi Organic IPO bought 107 times; Nazara Technologies opens strong

The IPO of Laxmi Organic, Mumbai-based specialty che­micals firm, has garnered 107 times subscription. The issue closed on Wednesday.

The institutional investor portion of the IPO was subscribed 175 times, the high net-worth individual portion was subscribed 218 times and the retail portion was bought nearly 20 times.

The IPO of Craftsman Automation, which also closed on Wednesday, witnessed 5.2 times subscription. The IPO comprised a fresh issue of Rs 150 crore and an offer for sale of 45,21,450 equity shares.

ALSO READ: Aditya Birla AMC considering IPO, may join fund houses in opting to list

The IPO India, which closes on Thursday, has received 1.21 times subscription, so far. The portion reserved for qualified institutional buyers (QIBs) received 24 per cent subscription, while those for non-institutional investors 89 per cent and retail individual investors (RIIs) 1.90 times.

Gaming company Nazara Technologies’ IPO, on the other hand, was bought four times and that of Suryoday Small Finance Bank was subscribed 0.42 times on their opening day.

Anupam Rasayan’s IPO, which closed on Tuesday, had garnered 44 times subscription. Investment bankers said six issues getting bunched up in a single week is unprecedented.

Given the positive sentiment all issues will sail through easily, they added. The six together will mobilise Rs 4,524 crore.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link