CreditAccess Grameen IPO subscribed 1.37 times so far on last day of bidding

NEW DELHI: The initial public offer of microfinance firm CreditAccess Grameen was subscribed 1.37 times so far during the last day of bidding today.

The Rs 1,131-crore IPO, received bids for 2,58,55,620 shares against the total issue size of 1,88,29,684 shares, data available with the NSE till 1400 hrs showed.

Till yesterday, the offer was subscribed 37 per cent.

The public offer comprises of fresh issue of up to Rs 630 crore and an offer for sale of up to 11,876,485 shares, including anchor portion of 8,041,617 shares.

CreditAccess Grameen had on Tuesday raised over Rs 339 crore from anchor investors.

Price band for the offer, which opened for subscription on Wednesday, has been set at Rs 418-422 per share.

The Bengaluru-based firm had filed draft papers with the Securities and Exchange Board of India (Sebi) to float an IPO in January and received the regulator's go-ahead in June.

ICICI Securities, Credit Suisse Securities (India), IIFL Holdings and Kotak Mahindra Capital Company are managing the issue.

Original Article

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *