Affle India IPO subscribed 28% on first day of bidding

The category reserved for qualified institutional buyers (QIBs) was subscribed 27 percent, noninstitutional investors 5 percent and retail individual investors 67 percent.

The initial public offer of mobile marketing firm Affle India was subscribed 28 percent on the first day of bidding on Monday. The IPO to raise Rs 459 crore, received bids for 9,42,260 shares against the total issue size of 33,78,021 shares as per the NSE data.


The category reserved for qualified institutional buyers (QIBs) was subscribed 27 percent, noninstitutional investors 5 percent and retail individual investors 67 percent.

Affle India on Friday raised about Rs 206.55 crore from 15 anchor investors.

The IPO consists of a fresh issue of Rs 90 crore and an offer for sale of 49,53,020 equity shares including anchor portion of 27,72,483 equity shares.

The price range for the offer, which would close on Wednesday, has been fixed at Rs 740-745 per share.

ICICI Securities and Nomura Financial Advisory and Securities India are managing the offer.

The equity shares of the company are proposed to be listed on the National Stock Exchange of India and BSE.

For taking 2 days free trial and Stock Market Tips with more than 90% accuracy click here MCX Tips

Comments

Post a Comment

Popular posts from this blog

Technical Classroom: How to use Fibonacci Retracement Levels in stock trading

Image
Fibonacci retracement is a method of technical analysis for determining support and resistance levels A Fibonacci retracement is a popular tool among technical traders and is based on some key numbers. The origins of the Fibonacci series can be traced back to the ancient Indian mathematic scripts, with some claims dating back to 200 BC. However – in the 12th century - Leonardo Pisano Bigollo, an Italian mathematician who was known to his friends as Fibonacci, discovered Fibonacci numbers. It is a popular tool that technical traders use to help identify price levels for transactions, stop losses or target prices. These retracement levels also provide support and resistance levels for a stock. However, it really becomes most effective when confirming signals or conditions identified by additional technical analysis tools. Fibonacci Retracement is a method of technical analysis for determining support and resistance levels. It is named after the use of the Fibonacci sequ
Read more

Surprise or disappointment: Check out how top companies have performed in Q1

Image
Experts say that double-digit earnings growth could be seen after the September quarter. Sectors like auto and auto ancillaries, consumer discretionary and FMCG will get affected by demand slowdown. We are in the midst of earnings season with some top names which already announced their June quarter numbers. IT majors Infosys and Tata Consultancy Services along with Tata Motors, Bank of Baroda, Hindustan Unilever, Larsen & Toubro and Zee Entertainment have already announced their Q1 numbers. Bank of Baroda, Bajaj Finserv, Bajaj Finance, Asian Paints and Bharti Infratel posted profit growth while Tata Motors disappointed the Street amid fall in JLR sales. “Given all the growth concerns, expectations have already been beaten down and we expect companies to largely deliver in line with consensus,” Vipin Khare, Director of Research – William O'Neil India, told Moneycontrol. We expect the current quarter to be amongst the worst quarters of the past three years
Read more

Trade Setup for Wednesday: Top 15 things to know before Opening Bell

Image
Rohit Singre of LKP Securities said index formed bullish candle on daily chart suggesting some more upside before expiry. The market rebounded sharply on June 25 after a correction in the previous two consecutive sessions. Overall though it has remained in a 200-point range on the Nifty for the last several sessions. The buying was across sectors with Nifty Metal rising most with 1.7 percent gain followed by PSU Bank (up 1 percent). The BSE Sensex gained 311.98 points to close at 39,434.94 while the Nifty 50 climbed 96.80 points to 11,796.50 and formed bullish candle resembling a Bullish Engulfing kind of pattern on daily charts. "Index has managed to sustain above previous day's high forming Bullish Engulfing candlestick pattern indicating a positive bias to continue towards 11,980-12,070 levels, unless it trades below 11,720 levels," Shabbir Kayyumi, Head of Technical Research, Narnolia Financial Advisors told Moneycontrol. He said any decisive
Read more