Shankara IPO subscribed 41 times

The Rs 345-crore initial public offering (IPO) of Shankara Building Products was subscribed 41 times on the final day of the three-day offering. The IPO received 218.4 million bids, against 5.29 million shares on offer. The portion for institutional investors was subscribed 53.3 times, while the high net worth individual quota was subscribed 92 times. The retail investors’ category was subscribed 14.2 times. The Benguluru-based company had raised Rs 103.5 crore by allotting shares to anchor investors. IDFC and Equirius Capital were the book running lead managers for the issue. Shankara is an organised retailer of home improvement and building products in India.