India's $174 million Endurance Tech IPO oversubscribed on last day

Image
Reuters MUMBAI
Last Updated : Oct 07 2016 | 7:43 PM IST

MUMBAI (Reuters) - Indian auto parts maker Endurance Technologies' 11.6 billion rupee ($174 million) initial public offering (IPO) was nearly 44 times oversubscribed on Friday, stock exchange data showed.

The company received bids for 754.3 million shares against 17.2 million on offer, according to data updated as of 0115 GMT.

The shares were being sold in a price range of 467 rupees to 472 rupees apiece.

Indian companies have raised $2.9 billion through IPOs in the first nine months of this year, a 171 percent jump from a year earlier, in their best run since 2010, according to data compiled by Thomson Reuters.

($1 = 66.5953 Indian rupees)

(Reporting by Devidutta Tripathy; Editing by Alexander Smith)

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Oct 07 2016 | 7:25 PM IST

Next Story