Platinum Industries'' IPO received 8.04 times subscription on the first day, with strong interest from non-institutional investors and retail investors.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Feb 27 (PTI) The initial public offer of Platinum Industries received 8.04 times subscription on the first day of share sale on Tuesday.
The Rs 235 crore-IPO received bids for 7,74,20,952 shares against 96,32,988 shares on offer, as per NSE data.
The portion meant for non-institutional investors got subscribed 13.58 times while the Retail Individual Investors (RIIs) quota received 10.21 times subscription. The category for Qualified Institutional Buyers (QIBs) fetched 7 per cent subscription.
The Initial Public Offer (IPO) has a fresh issue of up to 1,37,61,225 equity shares.
The price range for the offer is fixed at Rs 162-171 a share.
Platinum Industries has mobilised over Rs 70 crore from anchor investors.
Platinum Industries, a multi-product company, is engaged in the business of manufacturing stabilisers.
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