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Rishabh Instruments IPO: QIB increased demand on the last day, offer closed after being subscribed 31.65 times
Rishabh Instruments IPO: The company's IPO was subscribed 31.65% today on strong demand from institutional buyers. According to NSE, the IPO received offers for 246571162 shares against the offer of 7790202 shares. The IPO offer closed today after being subscribed 72.54 times by Qualified Institutional Investors (QIBs), 31.29 times by Non-Institutional Investors and 8.44 times by Retail Investors. Read what is the complete news.
Along with the business week, today was also the last day of the initial public offering (IPO) of global energy efficiency solutions company Rishabh Instruments.
Today the company's IPO was subscribed 31.65 times due to heavy demand from institutional buyers. As per NSE data, the IPO received bids for 24,65,71,162 shares against 77,90,202 shares.
The IPO was subscribed to a total of 72.54 times by qualified institutional buyers (QIBs), 31.29 times by non-institutional investors, and 8.44 times by retail individual investors. Let us tell you that the equity shares of the company will be listed on BSE and NSE.
The company had made a fresh issue of equity shares up to Rs 75 crore in this IPO. In addition, the company had decided to sell up to 94.3 lakh equity shares through OFS by the promoter group shareholders and an existing investor.
