Profit

Shalby IPO Subscribed Nearly Three Times

Shalby Ltd's initial public offering (IPO) to raise Rs 510 crore ($79 million) was subscribed 2.8 times on the last day of the sale on Thursday.

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Shalby IPO Subscribed Nearly Three Times

Shalby IPO was launched to raise Rs 510 crore


Shalby Ltd's initial public offering (IPO) to raise Rs 510 crore ($79 million) was subscribed 2.8 times on the last day of the sale on Thursday.

Institutional investors bid for 4.5 times the number of shares reserved for them, while the retail portion was subscribed 2.93 times, data as of 6:00 pm showed.

The offer comprised a primary share sale of Rs 480 crore, while one of the existing shareholders was selling 1 million shares in the IPO in a price range of Rs 245 rupees to Rs 248.

Edelweiss, IDFC Bank and IIFL Holdings are managing the IPO.

India has seen a record year for IPOs with more than $11 billion of initial share sales in 2017.

© Thomson Reuters 2017


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