 "Endurance Tech IPO subscribed 12% on Day 1")
Auto component maker Endurance Technologies' initial public offering (IPO) has been subscribed 12 per cent on the first day of the offer on Wednesday. The company's IPO received bids for 2,140,680 shares against the total issue size of 17,229,118 shares, data available with the National Stock Exchange (NSE) till 1715 hours showed.
The category set aside for qualified institutional buyers (QIBs) was subscribed four per cent, while that of non- institutional investors was three per cent. Retail investors' portion saw 21 per cent subscription. Endurance Technologies on Tuesday raised over Rs 348 crore by allotting shares to anchor investors. The issue comprises 24.6 million equity shares, including an offer for sale of 19.3 million shares by private equity firm Actis and 5.32 million shares by the promoter.
It has fixed the price band at Rs 467-472 per equity share for the offer which is scheduled to close on Friday.
The issue is being managed by Axis Capital and Citigroup Global Markets India Pvt Ltd.
The equity shares are proposed to be listed on BSE and National Stock Exchange(NSE).
The company manufactures two-wheeler and three-wheeler automotive components. It also has operations in Europe with manufacturing facilities in Italy and Germany.
