Investors' cash worth nearly Rs 3.4 lakh crore is currently blocked under Application Supported by Blocked Amount, or ASBA, as the ongoing initial public offerings this week, especially Bajaj Housing Finance Ltd.'s maiden issue, generated strong demand.
On Wednesday, IPOs of three companies, including Bajaj Housing Finance, Kross Ltd., and Tolins Tyres Ltd., will close. The subscription for PN Gadgil Jewellers Ltd.'s initial share sale will continue until Thursday.
Under ASBA, banks have the authority to temporarily block funds until the allotment of shares. Banks debit the funds proportionately to the final share allotment, then release the remaining funds.
At 5:30 p.m. on Wednesday, Bajaj Housing Finance's IPO held approximately Rs 3.23 lakh crore, or 95% of the locked amount of Rs 3.39 lakh crore. The NBFC looks to raise Rs 6,560 crore via the maiden issue.
Kross received a subscription worth Rs 6,191 crore, while it seeks to raise Rs 500 crore. Tolins Typers and PN Gadgil bagged bids worth Rs 4,044 crore and Rs 5,590 crore, respectively.
Subscription Status
Bajaj Housing Finance
The IPO was subscribed 63.54 times as of 5:30 p.m. on Wednesday.
Institutional investors: 209.36 times.
Non-institutional investors: 41.43 times.
Retail investors: 6.94 times.
Employee reserved: 1.98 times.
Reservation portion shareholder: 17.43 times.
Kross
The IPO has been subscribed 16.65 times as of 5:30 p.m. on Wednesday.
Institutional investors: 23.32 times.
Non-institutional investors: 22.18 times.
Retail investors: 10.48 times.
Tolins Tyres
The IPO has been subscribed 23.57 times as of 5:27 p.m. on Wednesday.
Qualified institutional buyers: 25.42 times.
Non-institutional investors: 27.34 times.
Retail investors: 20.89 times.
PN Gadgil
The PN Gadgil IPO has been subscribed 6.90 times as of 5:30 p.m. on Wednesday.
Institutional investors: 0.08 times or 8%.
Non-institutional investors: 15.76 times.
Retail investors: 7.00 times.
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