Business Standard

Affle India IPO subscribed 28% on first day of bidding


Press Trust of India New Delhi
The initial public offer of mobile marketing firm Affle India was subscribed 28 per cent on the first day of bidding on Monday.
The IPO to raise Rs 459 crore, received bids for 9,42,260 shares against the total issue size of 33,78,021 shares as per the NSE data.
The category reserved for qualified institutional buyers (QIBs) was subscribed 27 per cent, non institutional investors 5 per cent and retail individual investors 67 per cent.
Affle India on Friday raised about Rs 206.55 crore from 15 anchor investors.
The IPO consists of a fresh issue of Rs 90 crore and an offer for sale of 49,53,020 equity shares including anchor portion of 27,72,483 equity shares.
Price range for the offer, which would close on Wednesday, has been fixed at Rs 740-745 per share.
ICICI Securities and Nomura Financial Advisory and Securities India are managing the offer.
The equity shares of the company are proposed to be listed on the National Stock Exchange of India and BSE.

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First Published: Jul 29 2019 | 6:55 PM IST

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