BSE IPO subscribed over 51 times

BSE IPO subscribed over 51 times

The issue manages to collect over Rs 45,000 crore

BSE IPO subscribed over 51 times

 Despite getting a sombre response in the first couple of days, investors lapped up the initial public offering (IPO) of BSE, Asia’s oldest stock exchange, in a big way with the issue being subscribed over 51 times on the final day.

The issue managed to collect over Rs 45,000 crore against the issue size of Rs 1,243 crore.

The IPO of BSE was subscribed 51.06 times as of 6 pm on its closing day with the issue getting bids for 55.23 crore shares against the issue size of 1.07 crore shares. Of the 55.23 crore shares bid for, bids for a total of 2.91 crore shares were received at the cut-off price.

Retail individual investor portion of the IPO was subscribed 6.18 times. Retail investors invested over Rs 2,600 crore which is over two times the total size of the IPO.

As far as the other categories of the IPO are concerned, the qualified institutional buyers (QIBs) portion was subscribed 48.64 times while the high networth individuals (HNIs) portion was subscribed 159.03 times.

This is the fourth IPO to get over a million applications in the current fiscal. The other IPOs which crossed the million plus mark in terms of applications received included L&T Infotech, RBL Bank, ICICI Prudential Life Insurance.

The BSE IPO could also possibly the largest number of applications for any IPO in FY2017 (amongst million plus application IPOs). BSE had set a price band of Rs 805 to Rs 806 per share for its IPO which opened on January 23, and closed on January 25.