The initial public offer of auto component maker Sandhar Technologies was subscribed 40 per cent on the second day of bidding today.
The IPO to raise Rs 512 crore received bids for 43,80,165 shares against the total issue size of 1,08,72,661 shares, data available with the NSE showed.
Qualified institutional buyers (QIBs) portions was subscribed 89 per cent, non institutional investors
8 per cent and retail investors 27 per cent.
The IPO comprises fresh issue of shares worth Rs 300 crore and an offer for sale of up to 64 lakh shares (including anchor portion of 46,30,842 shares).
The issue, which would close tomorrow, is in a price band of Rs 327-332.
ICICI Securities and Axis Capital are managing the issue.
Sandhar Technologies on Friday raised Rs 154 crore from anchor investors.
The company plans to use a portion of the net proceeds towards repayment of certain loan facilities and for other general corporate purposes.
The shares are proposed to be listed on BSE and NSE.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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