Endurance Technologies IPO Sees Huge Demand, Subscribed 43.8 Times On Final Day
Auto component maker Endurance Technologies' initial public offering was oversubscribed 43.75 times till 6 pm on the last day of the bidding on Friday. The company's IPO received bids for 75,37,60,020 shares against the total issue size of 1,72,29,118, data available on the National Stock Exchange showed.
The quota reserved for qualified institutional buyers was subscribed 53.4 times, while that of non-institutional investors got subscribed 127.1 times. The portion reserved for retail investors was subscribed 2.5 times.
Endurance Technologies raised over Rs 348 crore by allotting shares to anchor investors.
The issue comprises 2.46 crore shares, including an offer for sale of 1.93 crore, by private equity firm Actis and 53.17 lakh shares by promoter Anurag Jain.
The company fixed the price band at Rs 467-472 per share. The issue was managed by Axis Capital and Citigroup Global Markets India Pvt.
The shares are proposed to be listed on the BSE and the National Stock Exchange (NSE).
The company manufactures two-wheeler and three-wheeler automotive components. It also has operations in Europe with manufacturing facilities in Italy and Germany.
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