Investors placed bids for 3.81 times the 1.52 million shares available in the offer for sale of Pioneer Distilleries. The retail portion was subscribed 2.38 times, while the non-retail portion was subscribed 3.97 times. United Spirits was the selling promoter. It sold 11.35 per cent stake in the company with an indicative price of Rs 17.69 for retail investors and Rs 23.11 for others. The stock closed at Rs 60.95 on Tuesday.
The BSE was the designated exchange for the OFS and JM Financial was the banker managing the issue, according to an exchange notice.
