Initial offering public (IPO) in Mrs. Electronics, the largest change in India to laptops and desktops, seen strong investor interests and fully subscribed at the time of opening Wednesday.
Up to 10:50 am, the IPO received bids for 1,82,02,842 parts against 1,41,88,644 part of a subscription 1.28 times, according to BSE.
Among the investment categories, the non-institutional investors (NIIS) led the fee, which partially subscribed to 2.37 times it allocated. The investment investment category also sees great involvement, with 1.53 times in the reserved allocation book.
However, the request from qualified institutional buyers (Qib) remain muted, with only 2 percent of their quota subscribed so far.
IPO remains open for subscription until Friday, July 25. The company launched the issue, addressed to raise Rs 460.4 crore.
In a press conference, the company announced the price band between RS 225 and RS 237. The issue includes a fresh issue of equity shares worth RS 400 crore, along with an offer for sale (ofs) of 25.5 lakh shares by promoters, aggregating to Rs 60.43 crore at the upper price band.
Investors can tid for a minimum of a lot consisting of 63 parts of equity, and to the pays after. At the upper end of the price band, the company commands a market capitalization in excess of Rs 2,700 crore.
Using revenues
Net income from fresh issue will be used for:
- Paying outstanding lending
- Capital requirements working in capital
- General corporate goals
Destroy allocation:
50 percent reserved for eligible institutional buyers (qibs)
35 percent for readers of the readers (RIIS)
15 percent for non-institutional investors (NIIS)
The books of the book running book (BRLMS) investment advitors in Motilal Oswale, IIFL Capital Services, and JM service, while JMShare service is the issue register.
Electronics parts are expected to list in stock exchanges on July 30.
About Mrs. Electronics
The Mrs Electronics, known under the brand “Electronics Bazaar”, a leading player on the repaired side of India.
The company operates a vertical model model, which is in charge of the full revision of life – obtaining, improving, marketing, service, and guarantee. Its product includes laptops, desktops, tablets, servers, premium smartphones, and mobile workstations.
