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The Rs 350-crore Initial Public Offering (IPO) of Monte Carlo was subscribed 1.71 times, a day before the issue closes.
The institutional and retail investor category was subscribed 1.77 times and 2.38 times, respectively, while the high net worth investor (HNI) segment was subscribed seven per cent, according to data provided by the stock exchanges.
The apparel maker is selling 5.4 million shares in the IPO in the price range of Rs 630 to Rs 645 apiece. Monte Carlo has raised Rs 105 crore from anchor investors by selling 1.63 million shares (30 per cent of the issue) at Rs 645 apiece. Investment bankers said the IPO was likely to see huge oversubscription on the last day. The success of recent IPOs are drawing investors to the primary market, they said.
Shemaroo Entertainment, Sharda Cropchem and Snowman Logistics, the three issues to precede Monte Carlo, have all delivered positive returns to investors.
