The BSE’s IPO worth Rs 1,243 crore is watched to have been oversubscribed on the back of high interest among retail investors, since the institutional investors have shown less interest in buying into it so far.
The BSE IPO, which opened on Monday will be closing today, which got bids from institutional investors for 21% of the reserved shares till the end of the bidding yesterday.
It is noted that the participation of retail investors was high, with the issue receiving 173% over-subscription for the shares reserved for that group. The overall issue was over-subscribed by 55%. Nearly 28.6% of the issue is reserved for institutional investors, whereas about half the issue is reserved for retail buyers. Today, being the end day, the issue will be watched closely for participation from institutional buyers.