The initial public offerings of Bikaji Foods International and Global Health ended with robust response on Monday. While the issue of the snack-maker was subscribed 26.67 times on Monday, the IPO of Medanta Hospital owners was subscribed 9.58 times.
The ₹881.22-crore Bikaji Foods IPO received bids for 55.04 crore shares against 2.06 crore shares on offer.
The quota meant for Qualified Institutional Buyers (QIBs) received 80.63 times subscription, while the non-institutional investors category was subscribed 7.10 times and retail individual investors (RIIs) was subscribed 4.77 times.
As the IPO, which came at a price band of ₹285-300 a share, was only an offer-for-sale, the company will not receive any funds. Ahead of the issue, Bikaji Foods had raised ₹262 crore from anchor investors.
Global Health IPO
The IPO of Global Health managed to get subscribed on the last day only, thanks to QIBs. The offer received bids for 44.480 crore shares against 4.67 crore shares on offer.
The quota meant for QIBs received 28.64 times subscription, while the NII category was subscribed 4.02 times. The quota for RIIs was undersubscribed to the extent of 0.88 times only.
On Wednesday, the company had mobilised ₹662 crore from anchor investors ahead of its IPO. Proceeds from the fresh issue will be used to pay debt and for general corporate purposes.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.