Abans Holdings Ltd's initial public offering (IPO) was subscribed 0.11 times or 11 percent on the first day, driven by response from retail investors and non-institutional investors.
The issue that opened today for subscription will close on Wednesday.
The company received bids for 14,30,715 shares against 1,28,00,000 shares on offer, according to data from the BSE.
The retail investors' portion was subscribed 0.13 times. The company received bids for 9,69,320 shares against 76,80,000 on offer for this segment.
The non-institutional investors' portion was subscribed 0.12 times. The company received bids for 4,61,395 shares against 38,40,000 on offer for this segment.
On the other side, the first day of subscription did not see any response from qualified institutional buyers, and employee.
The company has set the price band at 256 to 270 rupees per equity share.
The IPO offer consists of a fresh issue of up to 38 lakh equity shares and offer-for-sale by promoter Abhishek Bansal of up to 90 lakh equity shares.
Along with other basic business needs, the proceeds from the issue will be utilised to increase the NBFC subsidiary's (Abans Finance) capital basis.