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India Pesticides Limited IPO subscribed 3.79 times on Day 2; retail, qualified institutional buyers take lead

India Pesticides Limited IPO subscribed 3.79 times on Day 2; retail, qualified institutional buyers take lead

The India Pesticides Limited IPO with a size of Rs 800 crore, which includes Rs 100 crore from fresh issues and an offer for sale (OFS) is going to raise Rs 700 crore, will be closing tomorrow (25 June, Friday)

India Pesticides Limited IPO subscribed 3.79 times on Day 2; retail, qualified institutional buyers take lead

Representational image. Reuters

The India Pesticides Limited IPO was subscribed 3.79 times on its second day while the portion reserved for the retail investors was subscribed 5.87 times. Qualified Institutional buyers subscribed their portion 2.31 times and the portion for non-qualified investors has been subscribed 0.91 times.

Against the IPO size of 1.93 crore equity shares, bids for as many as 6.58 crore equity shares have been received so far, Blomberg Quint reported.

This comes after the India Pesticides Limited IPO opened on Wednesday (23 June). The IPO will be closing on the third day or 25 June (Friday). The India Pesticides Limited IPO with a size of Rs 800 crore includes Rs 100 crore from fresh issues while the offer for sale (OFS) is going to raise Rs 700 crore.

On 22 June, Rs 240 crore from anchor investors were raised by the company thus reducing the IPO size to 1.93 crore equity shares.

After the listing of the India Pesticides Limited IPO, the promoters holding, which was 82.68 percent, will be reduced to 72 percent.

The IPO of the book building issue type has a face value of Re 1 per equity share. The price range of this IPO is fixed at Rs 290 to Rs 296.

As many as 13 lots of India Pesticides Limited IPO can be booked by the traders. Every lot has 50 shares, therefore the maximum investment limit for traders is Rs 1,92,400 while the minimum investment limit for bidders is Rs 14,800.

The IPO allotment will be finalised by Wednesday (30 June), while it will be listed on 5 July at BSE and NSE.

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