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Affle India IPO subscribed 81 pc on second day of bidding

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Press Trust of India New Delhi
The initial public offer of mobile marketing company Affle India Limited was subscribed 81 per cent on the second day of bidding on Tuesday.
The IPO, to raise Rs 459 crore, received bids for 27,43,040 shares against the total issue size of 33,78,021 shares, according to the data available with the NSE.
The portion reserved for qualified institutional buyers (QIBs) was subscribed 37 per cent, that for non-institutional investors was subscribed 10 per cent and for retail individual investors was subscribed 3.21 times, merchant banking sources said.
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 will close for bidding on Wednesday, has been fixed at Rs 740-745 per share.
Affle India on Friday raised about Rs 206.55 crore from 15 anchor investors.
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 30 2019 | 6:45 PM IST

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