Endurance Tech IPO Subscribed 12 Percent On First Day
On Tuesday, the company raised over Rs 348 crore by allotting shares to anchor investors.
Auto component maker Endurance Technologies' initial public offering has been subscribed 12 percent on the first day of the offer on Wednesday.
The company's IPO received bids for 21,40,680 shares against the total issue size of 1,72,29,118 shares, data available with the NSE till 5:15 pm showed.
The category set aside for qualified institutional buyers (QIBs) was subscribed 4 percent, while that of non-institutional investors was 3 percent. Retail investors' portion saw 21 percent subscription.
Endurance Technologies on Tuesday raised over Rs 348 crore by allotting shares to anchor investors. The issue comprises 2.46 crore equity shares, including an offer for sale of 1.93 crore shares by exiting public shareholder, private equity firm Actis, and 53.17 lakh shares by promoter Anurag Jain. It has fixed the price band at Rs 467-472 per equity share for the offer which is scheduled to close on Friday.
The issue is being managed by Axis Capital and Citigroup Global Markets India Pvt Ltd.
The equity shares are proposed to be listed on BSE and National Stock Exchange (NSE).
The company manufactures two-wheeler and three-wheeler automotive components. It also has operations in Europe with manufacturing facilities in Italy and Germany.