Sandhar Technologies IPO Subscribed More Than Six Times On Final Day
The QIB portion was subscribed 14.49 times.
Final Day Subscription
- Qualified institutional buyers: 14.49 times
- Non-institutional bidders: 6.44 times
- Retail investors: 1.19 times
- Overall: 6.12 times
Sandhar Technologies Ltd.’s Rs 512-crore initial public offering was subscribed 6.12 times on the final day of bidding today.
The portion reserved for qualified institutional buyers saw strong demand, and was subscribed 14.49 times the number of shares on offer, while the retail investors portion was subscribed 1.19 times. The non-institutional segment received bids for 6.44 times the number of shares allotted, according to data provided by Axis Capital as of 6 pm.
Overall, the auto parts maker received bids for 6.60 crore shares as against the 1.08 crore shares put on offer, according to stock exchange data. The floor price of the IPO, which was a mix of fresh issuance and offer for sake, was fixed at Rs 327-332 apiece.
Sandhar Technologies makes two-wheeler locking systems and rear-view mirrors for commercial vehicles among 21 product categories, also including wheel assembly, sheet metal and aluminium components.