Affle India IPO Subscribed 86.49 Times On Final Day Of Bidding
Anuj Khanna Sohum, chairman and managing director, Affle India. (Photo: Affle India)

Affle India IPO Subscribed 86.49 Times On Final Day Of Bidding

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The initial public offering of mobile marketing company Affle India Ltd. was subscribed 86.48 times so far on Wednesday, the last day of bidding.

The Rs 459-crore Affle India IPO received bids for 29,21,57,880 shares against the total issue size of 33,78,021 shares, according to data available with the National Stock Exchange.

The portion of shares reserved for qualified institutional buyers was subscribed 55.31 times, while those for non-instiutional investors and retail investors were subscribed 198.69 times and 10.94 times, respectively.

The IPO had witnessed 81 percent subscription on the second day of bidding Tuesday.

“We would like to thank all our investors who have shown tremendous confidence in Affle’s journey till date. We received approximately 296,561 applications across all investor segments, subscribing to Affle India IPO by 86.48 times,” said Anuj Khanna Sohum, chairman, managing director and chief executive offier of Affle India.

The Affle India IPO consists of a fresh issue of shares worth Rs 90 crore and an offer for sale of 49,53,020 equity shares, including anchor portion of 27,72,483 shares.

Also read: Affle India IPO: Here’s All You Need To Know

Affle India had on Friday raised Rs 206.55 crore from 15 anchor investors.

Shares in the Affle India IPO were issued in a price band of Rs 740-745 apiece.

ICICI Securities Ltd. and Nomura Financial Advisory and Securities (India) Pvt. Ltd. are managing the offer.

Affle India shares are proposed to be listed on the National Stock Exchange and the Bombay Stock Exchange, but a listing date is yet to be announced.

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