Igarashi Motors OFS sails through

The offer-for-sale by P Mukund, Promoter of Igarashi Motors India, received strong response from investors. Through the OFS, Mukund sold 33.20 lakh shares (or 10.35 per cent of the equity share capital of Igarashi), raising about ₹220 crore. While the institutional and HNI portion got subscribed 2.7 times, the retail portion was subscribed 1.6 times. The seller has fixed ₹652.50 as allotment price for retail investors and ₹665.60 for non-retail investors. Systematix Corporate Services was the advisor to the OFS. On Thursday, shares of the company closed at ₹672, down 1.13 per cent, on the BSE.