New Delhi: The Godrej Agrovet Ltd’s initial public offering (IPO) was subscribed 4.42 times on Friday, the last day of the share sale.
As of 12pm, the IPO received bids for 79,688,192 shares against the total issue size of 18,027,464, according to data available with NSE.
On the second day of the offering on Thursday, the issue was subscribed 2.37 times.
As of 5pm on Thursday, the portion of shares reserved for institutional investors saw a subscription of 2 times, while the portions reserved for retail investors and non-institutional investors were subscribed 2.8 times and 2.09 times, respectively.
Godrej Agrovet has priced its shares in a band of Rs450-460 per share. The IPO will close on 6 October.
The Rs1,157 crore IPO comprises a fresh issue of shares worth Rs291.5 crore. Proceeds from the fresh issue will be used by the firm for repayment or prepayment of working capital facilities, repayment of commercial papers issued by the company, and to meet general corporate expenses.
The promoters and investors will collectively sell around 18.82 million shares in the share sale.