Vaibhav Jewellers, JSW Infrastructure IPOs fully subscribed; Updater Services sees tepid response so far
economictimes.indiatimes.comVaibhav Jewellers
The initial public offer of Vaibhav Jewellers, which opened on Friday, was fully subscribed on the last day of the bidding process. The overall subscription stood at 1.3 times on Day 3.
The NII portion was subscribed the most at 2.3x, followed by the retail category at 1.21x.
The part reserved for qualified institutional buyers was booked 68%.
The issue closes on September 26.
The company is one of the earlier entrants in the organised jewellery retail market of Andhra Pradesh and continues to focus on regional expansion into the high-growth untapped regions within the micro-markets of Andhra Pradesh and Telangana.
About 77% of its retail showrooms are in tier 2 and tier 3 cities and the rest are in Hyderabad and Visakhapatnam catering to urban consumers.
The IPO comprises a fresh issue of Rs 210 crore and an offer for sale (OFS) segment of up to 28 lakh equity shares. The total offer size comes to about Rs 270 crore.
The company has fixed a price band of Rs 204-215 per share for its IPO.
JSW Infrastructure
JSW Infrastructure's Rs 2,800 crore IPO, which closes on September 27, is the biggest of the month.
The issue was fully booked on the second day, led by strong interest from retail investors.
The demand from retail investors was robust at 3.05x subscription, while NII's category was booked at 1.53x. The QIB subscription was subscribed just 4%.
The IPO is entirely a fresh equity issue of Rs 2,800 crore.
