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India Infoline Finance Ltd today said its public issue of secured redeemable non-convertible debentures (NCDs) has been subscribed by 2.2 times.
The Rs 525-crore issue received a total subscription of Rs 1,154 crore, the company said, citing the initial data on the stock exchanges.
"We are overwhelmed by record response with bids for Rs 1,154 crore to our Rs 525-crore NCD issue, particularly in the backdrop of such tight liquidity conditions and uncertain environment," India Infoline Group Chairman Nirmal Jain said in a statement.
The issue got a good response from investors, who are looking for fixed monthly income returns, he said.
According to the stock exchange data, all categories under the issue were oversubscribed. Category III (retail individual investors, NRIs and Hindu undivided families) has been subscribed to approximately around 1.93 times.
The category II (corporate bodies) has been subscribed by around 1.98 times and category I (Institutions) approximately 2.6 times.
The NCDs will be listed on both NSE and BSE.
