Godrej Agrovet IPO subscribed over 95 times on last day
ETMarkets.com|
Updated: Oct 06, 2017, 06.14 PM IST
NEW DELHI: Godrej Agrovet IPO got subscribed 95.09 times on the final day of the bidding process on Friday.
The public offer received bids for 1,71,42,34,400 shares against 1,80,27,464 shares offered by the company till 5 pm, according to the data available with NSE.
The quota limit for qualified institutional buyers (QIBs) was subscribed over 150 times, non-institutional investors (NIIs) 236 times and retail investors 7 times. Employees quota got subscribed by 0.81 times.
On Tuesday, the company allotted 74.17 lakh shares to 25 anchor investors including Reliance Capital Trustee Company, SBI Life Insurance Company, Nomura, Goldman Sachs, Government of Singapore, among others, at Rs 460 apiece.
Godrej Industries owns 60.81 per cent stake in Godrej Agrovet and intends to use the IPO proceeds towards loan repayments and other general purposes.
The company is the largest palm oil producer in India. Its joint venture in Bangladesh is the fourth largest feed producer in terms of sales volume.
In four years to FY17, the company’s top line and bottom line grew at a compounded annual growth rate of 12.2 per cent and 27.3 per cent respectively.
The public offer received bids for 1,71,42,34,400 shares against 1,80,27,464 shares offered by the company till 5 pm, according to the data available with NSE.
The quota limit for qualified institutional buyers (QIBs) was subscribed over 150 times, non-institutional investors (NIIs) 236 times and retail investors 7 times. Employees quota got subscribed by 0.81 times.
On Tuesday, the company allotted 74.17 lakh shares to 25 anchor investors including Reliance Capital Trustee Company, SBI Life Insurance Company, Nomura, Goldman Sachs, Government of Singapore, among others, at Rs 460 apiece.
Godrej Industries owns 60.81 per cent stake in Godrej Agrovet and intends to use the IPO proceeds towards loan repayments and other general purposes.
The company is the largest palm oil producer in India. Its joint venture in Bangladesh is the fourth largest feed producer in terms of sales volume.
In four years to FY17, the company’s top line and bottom line grew at a compounded annual growth rate of 12.2 per cent and 27.3 per cent respectively.
