[[{“value”:”
After closing the first day of its IPO with an overall subscription of 87%, workspace solutions provider IndiQube’s public issue was oversubscribed 1.37X by 12:05 PM on the second day, driven largely by strong demand from retail individual investors (RIIs).
The portion reserved for RIIs was oversubscribed 4.9X, with 1.53 Cr bids against 31 Lakh on offer.
Following this, the portion reserved for employees also saw an oversubscription of 3.5X. Employees made bids for 2.6 Lakh shares as against 73.8K shares reserved for them.
The non-institutional investors (NIIs) also made a complete subscription at 116%. NIIs placed bids for 54 Lakh shares compared to 46.5 Lakh shares reserved for them.
The QIBs opted for 23.8 Lakh bids against 93.1 Lakh shares on offer, translating into 26% subscription.
IndiQube’s INR 700 Cr IPO opened yesterday, comprising a fresh issue of INR 650 Cr and an offer for sale of INR 50 Cr. Both promoters, Rishi Das and Meghna Agarwal, will be divesting their stake via OFS, and post-listing, their stake will be diluted to 60% from 70% earlier.
Of the 650 Cr fresh issue, the company plans to deploy INR 462 Cr for capital expenditure for establishing newer centres and INR 93 Cr towards repayment of debt, while the remaining amount will be used for general corporate purposes
(The story will be updated soon.)
The post IndiQube IPO: Issue Subscribed 1.37X On Day 2 So Far appeared first on Inc42 Media.
“}]]
Read More Latest Startup News From The Indian Startup Ecosystem – Inc42 Media