Abans Holdings Ltd's initial public offering (IPO) was subscribed 0.46 times or 46 percent on the third 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, and 0.28 times or 28 percent on the second day.
The issue that opened on Monday for subscription will close on Thursday. The company received bids for 58,75,155 shares against 1,28,00,000 shares on offer, according to data from the BSE.
The qualified institutional buyers portion was subscribed 2.19 times. The company received bids for 27,98,675 shares against 12,80,000 on offer for this segment.
The retail investors' portion was subscribed 0.32 times. The company received bids for 24,35,895 shares against 76,80,000 on offer for this segment.
The non-institutional investors' portion was subscribed 0.17 times. The company received bids for 6,40,585 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.