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CreditAccess Grameen IPO subscribed 37% on Day 2

PTI Last Updated at 09 Aug 2018, 19:08 IST India

The initial public offer of microfinance firm CreditAccess Grameen was subscribed 37 per cent on the second day of bidding today.

The Rs 1,131-crore IPO, received bids for 69,86,420 shares against the total issue size of 1,88,29,684 shares, data available with the NSE showed.

The portion reserved for qualified institutional buyers (QIBs) was subscribed 79 per cent, non-institutional investors 2 per cent and retail investors 28 per cent.

The public offer comprises of fresh issue of up to Rs 630 crore and an offer for sale of up to 11,876,485 shares, including anchor portion of 8,041,617 shares.

CreditAccess Grameen had on Tuesday raised over Rs 339 crore from anchor investors.

Price band for the offer has been fixed at Rs 418-422 per share.

The Bengaluru-based firm had filed draft papers with the Securities and Exchange Board of India (Sebi) to float an IPO in January and received the regulator's go-ahead in June.

ICICI Securities, Credit Suisse Securities (India) Private, IIFL Holdings and Kotak Mahindra Capital Company are managing the issue.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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