- By Aditya Pratap Singh
- Mon, 18 Dec 2023 06:50 PM (IST)
- Source:JND
IPO Subscription Update: Suraj Estate Developers' IPO subscription was 71 per cent subscribed on the first day
Investors are showing immense interest in subscribing to IPOs of real estate development firms Suraj Estate Developers and Motison's Jewelers. Below are the day-one subscription details of both IPOs.
Suraj Estate Developers IPO
Suraj Estate Developers' IPO was 71 per cent subscribed on the first day on Monday.
According to data available on the NSE, it received bids for 58,50,946 shares against 82,35,293 shares in the initial public offer (IPO) offer.
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The retail individual investors (RIIs) segment was subscribed 1.23 times, while the non-institutional investors' quota received a 28 per cent subscription. The Qualified Institutional Buyers (QIBs) segment was subscribed by 12 per cent.
The Mumbai-based company's IPO has an issue size of Rs. 400 crore. The equity shares were issued fresh without an offer for sale (OFS) component. The company's IPO share price is Rs.340-360.
Motison's Jewelers IPO Subscription Update
Motison's Jewelers' Rs. 151 crore initial public offer (IPO) was oversubscribed 14.88 times on Monday. According to NSE data, the Jaipur-based retail jeweller received bids for 31,05,38,000 shares against 2,08,71,000 shares in the company's IPO offer.
The retail individual investors (RIIs) category was subscribed 22.01 times while the non-institutional investors segment was subscribed 13.74 times. The Qualified Institutional Buyers (QIBs) portion was subscribed to 8 per cent.
The IPO of up to 2,74,71,000 equity shares is priced at Rs52-55 per share. The public issue is entirely a fresh issue of 2.74 crore equity shares, excluding the Offer for Sale (OFS) component.
Both IPOs will be closed for subscription on 20 December 2023. The Motison's Jewelers IPO has been fully subscribed on day one of the subscription. While the offering of Suraj Estate was subscribed to 71 per cent of the share issue.
(With PTI Input)
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