IPO Subscription Status:  The Initial Public offerings of Western Carriers and Arcade Developers are getting massive response from the investors. The Share sale of Western carriers got 9.43 times the bidding on the third and final day of the IPO. While Arcade Developers' IPO received 16.20 times the subscription on its second day. 

Western Carriers IPO Subscription Status

The initial share sale of logistics company Western Carriers (India) Ltd was subscribed 9.43 times on the third day of public offer on Tuesday. The Rs 493 crore initial public offering received tenders for 19,67,33,274 shares, according to data available from the NSE.

The retail individual investor (RII) segment received 13.26 times the subscription while the quota of non-institutional investors received 12.74 times the bid. The Qualified Institutional Buyer (QIB) category accounted for 9 per cent of subscriptions.

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The company raised Rs 148 crore from anchor investors before IPO. The initial public offering (IPO) of the Kolkata-based company was available for subscription in the range of Rs 163-172 per share.

At the upper end of promoter Rajendra Sethia’s price band in the IPO, there is a fresh issue of up to Rs 400 crore of equity shares and an offer-for-sale (OFS) of up to Rs 93 crore of equity shares.

Arcade Developers IPO Subscription Status

On the second day of bidding on Tuesday, the initial public offer by Arcade Developers Ltd. was subscribed 16.20 times. Bids for 38,51,04,390 shares were received against 2,37,75,719 shares offered in the initial share sale, according to NSE data.

For non-institutional investors, the segment attracted subscriptions of 28.26 times while the category for retail individual investors (RIIs) received subscriptions of 19.99 times. The quota of qualified institutional buyers (QIBs) accounted for 44 per cent of subscriptions.

Arcade Developers Ltd’s initial public offering was fully subscribed on the first day of share trading on Monday, ending the day at 5.79 times subscription. Realty firm Arcade Developers Ltd has raised Rs 122.40 crore from anchor investors.

The company has set a price band of Rs 121-128 per share for its Rs 410 crore initial public offering. The initial share sale will end on September 19th. The IPO is entirely a fresh issue of equity shares worth Rs 410 crore with no offer-for-sale (OFS) component.

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(With PTI's Input)