The Rs 901-crore IPO of Muthoot Finance, the non-banking finance company engaged in gold loan business, has received tremendous response from investors - especially non-institutional investors (NIIs). It is the first IPO in the financial year 2011-12.
Public issue, which closed today, has subscribed more than 24.55 times, as per data available on National Stock Exchange. It has received bids for 107.46 crore equity shares as against issue size of more than 4.37 crore shares (excluding anchor investors' book).
The reserved portion of NIIs subscribed around 60.94 times, with receiving bids for 47.07 crore shares ag against portion of 77.25 lakh shares. Retail investors' portion of 1.8 crore shares has seen bids for 15.3 crore shares - subscribed over 8.5 times.
Qualified institutional investors' reserved portion, which closed yesterday, subscribed 25 times - received bids for more than 45 crore equity shares as against reserved portion of 1.8 crore shares.
Gold financing company offers 5.15 crore equity shares through the issue in a price band of Rs 160-175 a share.
Issue proceeds will be mainly used for augmenting capital base to meet future capital requirements to provide for funding of loans to customers.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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