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Affle India IPO subscribed 86.49 times on final day of bidding

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Press Trust of India New Delhi
The initial public offer of mobile marketing company Affle India was a huge hit amongst investors as it was subscribed 86.49 times on the final day of bidding on Wednesday.
The Rs 459-crore initial public offer (IPO) received bids for 29,21,57,880 shares against the total issue size of 33,78,021 shares, as per data available with the NSE till 2045 hours.
The category reserved for qualified institutional buyers (QIBs) was subscribed 55.31 times, that for non institutional investors 198.69 and for retail individual investors 10.94 times, according to merchant banking sources.
"We received approximately 2,96,561 applications across all investor segments, subscribing to Affle India IPO by 86.48 times. We pledge to focus on sustainable growth and to take Affle to greater heights from here," Affle (India) Limited Chairman, Managing Director, Chief Executive Officer Anuj Khanna Sohum said.
Affle India's IPO was subscribed 81 per cent on the second day of bidding on Tuesday.
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 has been fixed at Rs 740-745 per share.
Affle India had on Friday raised about Rs 206.55 crore from 15 anchor investors.
ICICI Securities and Nomura Financial Advisory and Securities (India) Private Limited were the managers to 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 31 2019 | 10:05 PM IST

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