The initial public offering of EAAA India Alternatives Ltd concluded on a high note with a final subscription of 5.25 times on the final day of bidding on Wednesday, October 28. However, the Company's IPO GMP remained subdued despite decent interest in the subscription.
The Rs 1,200 crore initial public offering (IPO) of an arm of Edelweiss Financial Services received bids for 2,78,19,540 shares as compared to last day’s closing of 52,99,684 shares on offer, according to NSE data.
EAAA India Subscription Status
The overall subscription for the IPO was 5.25 times. The bidding drive was led by qualified institutional buyers (QIBs).
Investor Category | Subscription (Times) |
|---|---|
Qualified Institutional Buyers (QIBs) | 13.13 |
Non-Institutional Investors | 4.58 |
Retail Investors | 1.03 |
Earlier, Edelweiss Financial Services backed company raised around Rs 360 crore from anchor investors.
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EAAA India Alternatives IPO Details
Detail | Information |
Issue Size | Rs 1,200 crore |
Price Band | Rs 1,585–1,665 per share |
Valuation | Rs 10,765 crore (at upper limit) |
Listing Date & Exchange | November 2 on BSE and NSE |
IPO Was An Offer for Sale
The IPO is entirely an offer-for-sale (OFS) by the Edelweiss Group, meaning the process would not go to the company.
The draft red herring prospectus (DRHP), submitted to the Securities and Exchange Board of India (SEBI) in January, reduces the issue size from the proposed Rs. 1,500 crore to Rs. 1,200 crore.
EAAA India Alternatives, established in 2008, is an alternative investment platform that manages long-term capital across various asset classes, including infrastructure, commercial real estate and private debt.
(With Input From PTI)