The public issue of financial services company Abans Holdings was subscribed 1.09 times on December 15, last day of the bidding. The IPO received bids for 1.39 crore shares against 1.28 crore on the offer.
Qualified institutional buyers, subscribing 4.1 times the allotted quota, were at the forefront to support the issue.
High networth individuals bought 1.48 times the reserved portion and retail investors bought 40 percent shares of the quota set aside for them.
The company had reserved 10 percent of the offer for qualified institutional buyers, 30 percent for high networth individuals (non-institutional investors), and the balance 60 percent for retail.
The Rs 345.6-crore public issue comprises a fresh issue of Rs 102.60 crore, and an offer for sale of Rs 243 crore by promoter Abhishek Bansal.
The price band for the offer was fixed at Rs 256-270 per share.
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The company will utilise fresh issue proceeds for augmentation of capital base of its NBFC subsidiary Abans Finance.
The IPO share allotment will be finalised by December 20. Unsuccessful participants will get their refunds by December 21, and equity shares will be credited to demat accounts of eligible investors by December 22.
The company will make its market debut on the BSE and NSE, on December 23.
Abans Holdings provides NBFC services, global institutional trading in equities, commodities and foreign exchange, private client stock broking, depositary services, asset management services, investment advisory services and wealth management services to corporates, institutional and high net worth clients.