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CreditAccess Grameen IPO subscribed over 2 times on final day of bidding


PTI Last Updated at 10 Aug 2018, 20:08 IST India

New Delhi, Aug 10 (PTI) The initial public offer of microfinance firm CreditAccess Grameen was subscribed 2.22 times on the last day of bidding today.

The Rs 1,131-crore IPO received bids for 4,17,97,980 shares against the total issue size of 1,88,29,684 shares, data available with the NSE till 1930 hrs showed.

The portion set aside for qualified institutional buyers (QIBs) was subscribed 5.52 times, non institutional investors 98 per cent and retail investors 88 per cent, merchant banking sources said.

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.

Price band for the offer, which opened for subscription on Wednesday, has been fixed at Rs 418-422 per share.

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

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), IIFL Holdings and Kotak Mahindra Capital Company managed the issue.

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

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