Fusion microfinance subscribed 3x on Day-2 on strong institutional support

Medanta Hospitals IPO subscribed 36% on day-2, Bikaji Foods by 1.5 times

The initial public offer (IPO) of Fusion microfinance was subscribed by 3 times  on Friday, the second of the issue. The institutional investor portion was subscribed by 8.6 times, the wealthy investor portion was subscribed by 1.38 times, and the retail investor portion by 0.5 times. The Rs 1,103.99 crore IPO was priced between Rs 350 to 368 per share. Earlier in the week the company allotted shares worth Rs 331 crore to 17 anchor investors. The company provides financial services to women entrepreneurs belonging to the economically and socially deprived sections.

Global Health IPO subscribed 36 per cent on day 2

The IPO of Global Health, the company that owns the "Medanta" chain of hospitals, was subscribed by 49 per cent on Friday, the second day of the issue. The institutional portion was subscribed by 56 per cent, the wealthy investor portion was subscribed by 96 per cent and the retail portion by 25 per cent. The Rs 2,205 crore IPO comprises a fresh issue of Rs 500 crore and an offer for sale of Rs 1,705 crore. The company raised Rs 661 crore through an anchor allotment. As many as 52 investors subscribed to the IPO through the anchor book including the Government of Singapore, Monetary Authority of Singapore, Nomura Trust, and Ontario Teachers' Pension Plan Board among others.

Domestic investors who participated in the anchor include HDFC Mutual Fund, SBI Mutual Fund, ICICI Prudential, and Axis Mutual Fund among others. Medanta is one of the largest private multi-speciality tertiary care providers operating in the North and East regions of India in terms of bed capacity and revenues. As of June 30, 2022, Global Health provides healthcare services in over 30 medical specialities and engages over 1,300 doctors. Their operational hospitals have 2,467 installed beds.

Bikaji Foods IPO subscribed 1.5 times on day 2

The IPO of Bikaji Foods subscribed  1.5 times on  Friday, the second day of the issue. The institutional investor portion was subscribed by 0.03 times, the wealthy investor portion by 1.4 times, the retail investor portion by 2.3 times and the portion reserved for employees by 1.4 times. The company has priced its IPO between Rs 285 to Rs 300 per share. The IPO is an offer for sale worth Rs 881 crore. Bikaji foods are the second fastest growing company in the Indian organised snacks market according to an F&S Report. As of June 30, 2022, the company has operations across 23 states and four union territories and exported its products to 21 international countries, including countries in North America, Europe, the Middle East, Africa, and Asia Pacific.