The offer for sale (OFS) by Axis Bank was subscribed 3.68 times by retail investors on Wednesday. The strong response by small investors came a day after the issue got an overwhelming response from non-retail investors in the previous session. The issue received retail bids for 2.84 crore shares, which was 3.68 times the total size of 77.09 lakh shares. The portion for retail category was fixed at 10 per cent.
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Watch Divestment drive- Axis Bank OFS subscribed 3.68 times on Day 2 With HD Quality.
The offer for sale (OFS) by Axis Bank was subscribed 3.68 times by retail investors on Wednesday. The strong response by small investors came a day after the issue got an overwhelming response from non-retail investors in the previous session. The issue received retail bids for 2.84 crore shares, which was 3.68 times the total size of 77.09 lakh shares. The portion for retail category was fixed at 10 per cent.
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Watch Divestment drive- Axis Bank OFS subscribed 3.68 times on Day 2 With HD Quality
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The government on Tuesday will launch an offer for sale to divest Axis Bank stake, it holds through the Specified Undertaking of Unit Trust of India (SUUTI). The Axis Bank’s SUUTI block is valued at about Rs 5,316 crore. The government plans to sell 1.98 per cent stake in the company as base offer, with an additional 1.02 per cent set aside as greenshoe option.
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The Rs 645-crore initial public offering of state-owned Indian Railway Catering and Tourism Corporation (IRCTC) was subscribed almost 112 times, making it the most successful share sale in over 20 months. This makes it the best subscribed IPO since Apollo Micro Systems which was subscribed 250.7 times and Amber Enterprises India which was subscribed 115.3 times. Both the IPOs were launched in January 2018. IRCTC IPO is best subscribed IPO for a PSU firm.
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