Godrej Agrovet’s IPO Subscribed More Than 96 Times On Final Day
Day 3 Subscription (As Of 4 p.m.)
- Qualified institutional buyers: 155.17 times
- Non-institutional bidder: 238.68 times
- Retail investor: 6.82 times
- Employee: 0.81 times
- Overall: 96.49 times
Investors show strong appetite for Godrej Agrovet's initial public offering after it was subscribed 96.49 times as of 4 pm on the final day of bidding today.
The portion set aside for qualified institutional investors received bid for 155.17 times the shares on offer, while the retail investors' segment was subscribed 6.82 times, according to the data shared by Axis Capital. The non-institutional bidder segment saw the highest demand, and was subscribed 238.68 times and the employee portion was subscribed 0.81 times.
The company raised Rs 341.19 crore from 25 anchor investors at the upper end of the price band, ahead of its IPO.
Also Read: Here's All You Need To Know About Godrej Agrovet IPO
Godrej Industries Ltd., the parent company of Godrej Agrovet, is selling a stake worth Rs 300 crore and Temasek's arm, V-Sciences, will offload a third of its nearly 20 percent holding. The company is looking to raise close to Rs 1,157 crore by offering 2.52 crore shares at Rs 450-460 apiece.
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