Gujarat-based spices maker Madhusudan Masala’s IPO was subscribed a formidable 412.94 occasions on the final day of bidding on Thursday, with retail traders and excessive networth people (HNI) main the occasion.
In line with media experiences, the shares allotted for retail traders have been oversubscribed 592.8 occasions, and the quota allotted for HNIs was overscribed 576.6 occasions. The quota for certified institutional consumers was overbought 86.64 occasions.
The IPO of the corporate, which is engaged within the manufacturing and processing of greater than 32 sorts of spices, opened on September 18 at a value band of Rs 66-70 per share with lot dimension of two,000 fairness shares. Retail traders may submit software for one lot whereas for HNI people, it was a minimum of two heaps.
The IPO comprised solely a recent subject portion of 34,00,000 lakh shares, elevating Rs 23.80 crore on the higher finish of the worth band of Rs 70 per share.
On Thursday, the gray market premium of Madhusudan Masala shares was double the higher value band of Rs 70 per share.
The shares of Madhusudan Masala can be allotted on September 26 and it will likely be listed on NSE on October 3.
