 "Windlas Biotech, Exxaro Tiles IPOs fully subscribed within hours of opening")
The initial public offerings of Windlas Biotech and Exxaro Tiles were fully subscribed within hours of opening for subscription on Wednesday, helped by encouraging retail investors' response.
Four initial public offerings (IPO) -- Windlas Biotech, Exxaro Tiles, Krsnaa Diagnostics and Devyani International -- have opened for subscription from Wednesday.
This comes at a time when the equity market is witnessing a dream run, with the BSE benchmark touching the 54,000-mark for the first time on Wednesday.
Windlas Biotech's IPO was subscribed 1.20 times, with the retail individual investors category receiving 2.36 times subscription.
The IPO received bids for 73,89,420 shares against 61,36,252 shares on offer, as per latest data with the NSE. Non institutional investors category was subscribed 6 per cent.
Windlas Biotech, a manufacturer of pharmaceutical formulations, on Tuesday said it has raised over Rs 120 crore from anchor investors.
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The company's initial public offer comprises a fresh issue of up to Rs 165 crore and an offer-for-sale of up to 51,42,067 equity shares.
The three-day offer is in a price range of Rs 448-460 per share. At the upper end of the price band, the initial share sale will fetch Rs 401.53 crore.
Windlas Biotech offer is being managed by SBI Capital Markets Limited, DAM Capital Advisors Limited and IIFL Securities.
Meanwhile, Exxaro Tiles, a leading manufacturer of vitrified tiles, has raised Rs 23.68 crore from anchor investors on Tuesday.
The Rs 161.08-crore IPO received bids for 2,17,94,625 shares, against 1,14,50,675 shares on offer, translating into 1.90 times subscription, as per NSE data till 1225 hours.
The portion meant for retail individual investors (RIIs) was subscribed 3.61 times and those for non-institutional investors 14 per cent.
The initial public offer of Exxaro Tiles of 1,34,24,000 equity shares comprises a fresh issue of up to 1,11,86,000 equity shares and an offer-for-sale of up to 22,38,000 equity shares.
The price range for the IPO, which would conclude on Friday, is Rs 118-120 per share.
Pantomath Capital Advisors is the manager of the offer.
Meanwhile, Krsnaa Diagnostics and Devyani International's public offering also witnessed oversubscription in retail individual investors category.
Krsnaa Diagnostics offer has been subscribed 72 per cent so far and Devyani International has been subscribed 95 per cent.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)