Bikaji Foods International IPO subscribed 27 times; Medanta 10 times

The initial public offerings (IPOs) of Bikaji Foods International and Global Health (Medanta) were subscribed 27 times and 10 times, respectively, on Monday, the final day of the issues. 

Both IPOs saw huge demand from qualified institutional buyers (QIBs) but a relatively subdued one from high networth individuals (HNIs) and retail investors. Bikaji is a leading snacks company, while Medanta operates a chain of hospitals.

Bikaji’s IPO was entirely a secondary share sale worth Rs 881 crore, while Medanta consisted of Rs 1,705-crore secondary share sale and Rs 500 crore worth of fresh fund raise. 
 

Sula gets Sebi approval for IPO

Wine maker Sula Vineyards has received the Securities and Exchange Board of India’s nod for its IPO.

The company had sought Sebi’s approval to raise capital via an IPO in July.

The firm has seen rise in sales in recent quarters with proceeds also pouring in from its luxury tourism vertical.