Business Standard

Friday, December 27, 2024 | 06:29 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Affle India's IPO subscribed 87 times on final day of bidding

The 3.4-million share offering saw bids for 292 million shares

IPOs
Premium

Samie Modak
Mobile marketing firm Affle India’s IPO was subscribed 87 times. The 3.4-million share offering saw bids for 292 million shares. Most of the bids came from institutional inv­estors and high networth individuals. The price band for the issue was Rs 740-745 per share. At the top end, Affle India will have a post-issue market cap of Rs 1,900 crore. At Rs 745, the issue was priced at 39 times its FY19 consolidated earnings. Experts said investors were attracted to Affle’s niche business and growth pros­pects, despite high valuations. 

The IPO comprised fresh equity issuance worth Rs 90 crore and offer for

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in