Popular Vehicles and Services IPO receives lukewarm response on day 1, issue booked 27%; check GMP
BSE data. The retail investors portion has been subscribed 47%, Non Institutional Investors (NII) portion has been booked 11%, and Qualified Institutional Buyers (QIB) portion is yet to be booked. The employee portion has been subscribed 3.83 times.
It has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors. Also Read: Popular Vehicles IPO opens today: GMP, subscription status, review, other details. Apply or not? The employee portion has been reserved equity shares aggregating up to ₹1 crore.
A discount of ₹28 per equity share is being offered to eligible employees bidding in the employee reservation portion. Popular Vehicles and Services IPO opened for subscription today (Tuesday, March 12) and will close on Thursday, March 14. The price band has been fixed in the range of ₹280 to ₹295 per equity share of the face value of ₹2.
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