New Delhi, Sep 22: The Sona Selection India Limited IPO ended its three-day subscription window on Tuesday with investors placing bids for more than twice the number of shares on offer.
The public issue was subscribed 2.01 times, with a total of 2,01,40,200 shares bid for against 1,00,10,000 shares available for subscription.
The Retail Individual Investor (RII) segment saw the strongest response, with the category subscribed 2.50 times. Retail investors placed bids for 1,25,34,150 shares, compared with 50,05,000 shares reserved for them.
The Non-Institutional Investor (NII) category was subscribed 2.00 times, receiving bids for 42,80,250 shares against 21,45,000 shares reserved for the category.
Meanwhile, the Qualified Institutional Buyer (QIB) portion received bids for 33,25,800 shares, against 28,60,000 shares reserved, translating into a subscription of 1.16 times.
Anchor investors raise ₹42.47 crore
Ahead of the public issue, Sona Selection India had allotted 42,90,000 equity shares at ₹99 per share to three anchor investors. The anchor allocation helped the company raise approximately ₹42.47 crore.
Astorne Capital VCC – Arven received the largest portion of the anchor allocation, with 22,96,350 shares, accounting for 53.53 per cent. India Max Investment Fund Limited was allotted 9,96,900 shares, while Lord Multigrowth Fund received 9,96,750 shares.
With the subscription period now over, the focus shifts to the next stages of the IPO process, including share allotment and listing. Investors will be able to track the allotment outcome once it is announced.
