scorecardresearchAbans Holdings IPO: Issue subscribed 0.28 times on Day 2

Abans Holdings IPO: Issue subscribed 0.28 times on Day 2

Updated: 13 Dec 2022, 08:03 PM IST
TL;DR.

  • The company received bids for 35,27,260 shares against 1,28,00,000 shares on offer, according to data from the BSE.

Abans Holdings IPO: The issue that opened Monday for subscription will close on Wednesday.

Abans Holdings IPO: The issue that opened Monday for subscription will close on Wednesday.

Abans Holdings Ltd's initial public offering (IPO) was subscribed 0.28 times or 28 percent on the second day, driven by response from qualified institutional buyers, retail investors and non-institutional investors. The public offering was subscribed 0.11 times or 11 percent on the first day.

The issue that opened on Monday for subscription will close on Wednesday. The company received bids for 35,27,260 shares against 1,28,00,000 shares on offer, according to data from the BSE.

The first day of subscription did not see any response from qualified institutional buyers (QIBs), but on the second day, the issue saw a good response from QIBs that subscribed it 1.01 times. The company received bids for 12,96,350 shares against 12,80,000 on offer for this segment.

The retail investors' portion was subscribed 0.23 times. The company received bids for 17,29,035 shares against 76,80,000 on offer for this segment.

The non-institutional investors' portion was subscribed 0.13 times. The company received bids for 5,01,875 shares against 38,40,000 on offer for this segment.

The company has set the price band at 256 to 270 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 base.

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First Published: 13 Dec 2022, 08:03 PM IST