Affle IPO subscribed 0.27 times on the first day

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Published: July 30, 2019 1:58:06 AM

The initial public offer (IPO) of Affle India, a mobile marketing company, was subscribed 0.27 times on Monday — the first day of the offer — with investors bidding for 9.42 lakh shares of the 33.78 lakh shares offered to them.

Affle India has set a price band of Rs 740-Rs 745 for its IPO.

The initial public offer (IPO) of Affle India, a mobile marketing company, was subscribed 0.27 times on Monday — the first day of the offer — with investors bidding for 9.42 lakh shares of the 33.78 lakh shares offered to them.

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 against 6.16 lakh shares reserved for them.

Affle India has set a price band of Rs 740-Rs 745 for its IPO.

The IPO comprises a fresh issue of up to Rs 90 crore and an offer for sale up to Rs 369 crore by its majority shareholder, Affle Holdings. The offer will close on July 31.

On July 26, the IPO committee of Affle India and the promoter selling shareholders in consultation with ICICI Securities and Nomura Financial Advisory had finalised allocation of 27.72 lakh equity shares worth Rs 206.54 crore to anchor investors at Rs 745 per share.

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