1. As CDSL gets record 170x bids, a look at IPOs that got subscribed over 100 times

As CDSL gets record 170x bids, a look at IPOs that got subscribed over 100 times

Indian IPO market is on a boom with all categories of investors overwhelmingly subscribing to new offers. The latest case being CDSL IPO which got subscribed 170.16 times. Read on to know about some other IPOs that got subscribed 100 times or more.

By: | Updated: June 22, 2017 5:01 PM
CDSL IPO got subscribed 170.16 times. (Express Photograph by Heena Khandelwal)

Indian primary market is witnessing a rising euphoria among investors as a record number of IPOs get launched and are overwhelmingly subscribed by all categories of investors. Similarly, the secondary market is also on an uptrend lately, and the benchmark indices, BSE Sensex and NSE Nifty, have returned 18.39 percent and 18.61 percent respectively since 1 Jan 2017. Latest case in point for the primary market euphoria is of the IPO of CDSL (Central Depository Services (India) Limited) which got subscribed a massive 170.16 times. However, the highest ever subscription does beg a question, had the issue been price a little more judiciously, could the exiting investors have got better proceeds for their stakes?

Here we look at some of the IPOs that got subscribed 100 times or more:

CDSL IPO

It was one of the most anticipated IPOs of this year and all categories of investors made a beeline for this offering. The IPO was subscribed a humongous 170.16 times at the close of bidding on Wednesday, making it the highest ever subscribed IPO in India.

The issue was open from June 19, 2017 – June 21, 2017, and the issue size was Rs 523.99 crore for close to 3.52 crore equity shares. The price band was Rs 145-149 and the lot size was 100. The shares will be listed on NSE only as CDSL is a subsidiary of BSE and SEBI guidelines don’t allow self-listing.

Religare IPO

This was the most subscribed IPO in India for almost 10 years, until CDSL came along and wrestled away the top stop. The IPO was subscribed a mind boggling 160.56 times at the close of bidding.

The issue was open from October 29, 2007 – November 1, 2007, and the issue size was Rs 140.16 crore for close to 75.76 lakh equity shares. The price band was Rs 160-185 and the lot size was 35.

Quess Corp IPO

The IPO was subscribed 143.99 times at the close of bidding. The issue was open from June 29, 2016 – July 1, 2016, and the issue size was Rs 400.00 crore for close to 12.60 crore equity shares. The price band was Rs 310-317 and the lot size was 45.

Future Capital IPO

The IPO was subscribed 133.44 times at the close of bidding. The issue was open from January 11, 2008 – January 16, 2008, and the issue size was Rs 491.34 crore for close to 64.22 lakh equity shares. The price band was Rs 310-317 and the lot size was 45.

Everonn IPO

The IPO was subscribed 119.54 times at the close of bidding. The issue was open from December 5, 2007 – December 12, 2007, and the issue size was Rs 438.53 crore for close to 91.36 lakh equity shares. The price band was Rs 425-480 and the lot size was 14.

Advanced Enzyme IPO

The IPO was subscribed 116.02 times at the close of bidding. The issue was open from July 20, 2016 – July 22, 2016, and the issue size was Rs 411.49 crore for close to 45.95 lakh equity shares. The price band was Rs 880-896 and the lot size was 16.

Mundra Port IPO

The IPO was subscribed 115.84 times at the close of bidding. The issue was open from November 1, 2007 – November 7, 2007, and the issue size was Rs 1,771.00 crore for 4.025 crore equity shares. The price band was Rs 400-440 and the lot size was 15.

Edelweiss IPO

The IPO was subscribed 110.96 times at the close of bidding. The issue was open from November 15, 2007 – November 20, 2007, and the issue size was Rs 691.86 crore for close to 83.86 lakh equity shares. The price band was Rs 725-825 and the lot size was 8.

MindTree IPO

The IPO was subscribed 103.28 times at the close of bidding. The issue was open from February 9, 2007 – February 14, 2007, and the issue size was Rs 237.72 crore for close to 55.93 lakh equity shares. The price band was Rs 365-425 and the lot size was 15.

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