 "S H Kelkar's IPO fully subscribed")
SH Kelkar & Company has received full subscription from its Rs 500-crore Initial Public Offering (IPO), which closes on Friday. IPO is the act of selling shares in a company for the first time.
The Mumbai-based firm has so far received 22.3 million bids for the 20.2-million shares on offer in the IPO. The qualified institutional buyer category quota got subscribed 2.25 times. Wealthy or high net worth individual quota was subscribed 1.14 times. The retail quota was subscribed 42 per cent.
SH Kelkar has set a price band of Rs 173-180 apiece for its IPO. On Tuesday, the company had raised Rs 150 crore from 13 anchor investors, including T Rowe Price, ICICI Prudential Mutual Fund, and Axis Mutual Fund.
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