Affle India IPO subscribed 81% on second day; all you need to know

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Published: July 30, 2019 7:06:46 PM

The initial public offering (IPO) of Affle India has been subscribed 81 per cent on the second day of bidding on Tuesday by the investors.

The IPO of the mobile marketing company which aims to raise Rs 459 crore, received bids for 27,43,040 shares as against the total issue size of 33,78,021 shares, the NSE showed.

The initial public offering (IPO) of Affle India has been subscribed 81 per cent on the second day of bidding on Tuesday by the investors. The IPO of the mobile marketing company which aims to raise Rs 459 crore, received bids for 27,43,040 shares as against the total issue size of 33,78,021 shares, the NSE showed. While the qualified institutional buyers (QIBs) portion was subscribed 37 per cent, non-institutional investors was subscribed 10 per cent and for retail individual investors was subscribed 3.21 times, news agency PTI reported citing the merchant banking sources.

About IPO

The public offering includes a fresh issue of shares worth Rs 90 crore and an offer for sale (OFS) of 49,53,020 equity shares, including anchor portion of 27,72,483 equity shares. The offer will close for bidding on Wednesday. The price range has been fixed at Rs 740-745 per share. On Friday,on the first day of bidding, Affle India raised nearly Rs 206.55 crore from 15 anchor investors.

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Managers

ICICI Securities and Nomura Financial Advisory and Securities India are managing the offer. The equity shares of the company are proposed to be listed on the National Stock Exchange of India and the Bombay Stock Exchange (BSE).

Meanwhile, the initial public offering of Affle India was subscribed 0.27 times on Monday on the first day of the offer with investors bidding for 9.42 lakh shares of the 33.78 lakh shares offered to them. The qualified institutional buyers bid for 4.87 lakh shares of the 18.35 lakh shares to them, high net worth individuals (HNIs) bid for 0.43 lakh shares, retail investors bid the highest at 4.11 lakh shares as against 6.16 lakh shares reserved for them.

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