 "Investors subscribe Platinum Industries IPO 8 times on Day 1 of bidding")
The initial public offer of Platinum Industries received 8.04 times subscription on the first day of share sale on Tuesday.
The Rs 235 crore-IPO received bids for 7,74,20,952 shares against 96,32,988 shares on offer, as per NSE data.
The portion meant for non-institutional investors got subscribed 13.58 times while the Retail Individual Investors (RIIs) quota received 10.21 times subscription. The category for Qualified Institutional Buyers (QIBs) fetched 7 per cent subscription.
The Initial Public Offer (IPO) has a fresh issue of up to 1,37,61,225 equity shares.
The price range for the offer is fixed at Rs 162-171 a share.
Platinum Industries has mobilised over Rs 70 crore from anchor investors.
Platinum Industries, a multi-product company, is engaged in the business of manufacturing stabilisers.
Unistone Capital is the manager to the offer.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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