Fino Payments Bank IPO sails through on final day, subscribed 2 times
Premium- At 5.30pm, the issue attracted bids for 23.25 million shares against the issue size of 11.46 million shares, excluding the anchor allotment
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Fino Payments Bank was subscribed 2.03 times by the end of the final day of the bidding process on Tuesday.
At 5.30pm, the issue attracted bids for 23.25 million shares against the issue size of 11.46 million shares, excluding the anchor allotment, stock exchange data showed.
The IPO had received tepid response on the first two days amid analyst views of stretched valuations.
The institutional investor category received bids for 10.24 shares and the book was subscribed 1.65 times, data showed.
The non institutional category comprising high networth individuals was subscribed just 0.21 times. Demand from retail individual investors, whose investments cannot exceed ₹2 lakh ini an IPO, stood at 5.92 times.
Meanwhile, PB Fintech Ltd manages to subscribed fully on second day. The overall IPO subscribed 1.71 times. Retail applied 2.12 times while institutional investors subscribed 2.3 times. High networth investors subscribed just 24%.
SJS Enterprises failed to get investors attraction on second day. Retail investors subscribed 1 time. High networth investors applied just 6% while QIB's yet to place orders for the issue.
Sigachi Industries subscribed over 23 times on second day. Retail investors subscribed over 38 times while HNI applied 17 times. QIB subscribed 82%.
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