AgenciesRelated
Mumbai: The Rs 170-crore initial public offering of Paras Defence and Space Technologies was subscribed 304 times on the final day of issue on Thursday. The offer received bids for 217.26 crore shares against the 71.41 lakh shares on offer, making it the most subscribed domestic IPO ever.
The portion reserved for non-institutional investors was subscribed 927.70 times, while the retail investor category was subscribed 112.81 times. The qualified institutional buyer category was subscribed 169.65 times. Brokers said the renewed strength in the market, especially in mid- and small-cap shares, after their sell-off in August, has rekindled investor interest in IPOs.
The record subscription to Paras IPO has exceeded that of Salasar Technologies, which was subscribed with 273.05 times in 2017. In 2018, Apollo Micro Systems was subscribed 248.5 times.
Paras Defence's offer comprised fresh issuance of shares aggregating up to Rs 140.6 crore and an offer for sale of 17.24 crore shares by existing shareholders.
The portion reserved for non-institutional investors was subscribed 927.70 times, while the retail investor category was subscribed 112.81 times. The qualified institutional buyer category was subscribed 169.65 times. Brokers said the renewed strength in the market, especially in mid- and small-cap shares, after their sell-off in August, has rekindled investor interest in IPOs.
The record subscription to Paras IPO has exceeded that of Salasar Technologies, which was subscribed with 273.05 times in 2017. In 2018, Apollo Micro Systems was subscribed 248.5 times.
Paras Defence's offer comprised fresh issuance of shares aggregating up to Rs 140.6 crore and an offer for sale of 17.24 crore shares by existing shareholders.
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